Ripple (XRP) Price Analysis (Nov 29th 2024)

Story Highlights

• Ripple price surges ~7% and reclaims the $1.5 mark today.
• The technical indicators record increased bullish sentiment.
• Sustained bullish action could result in the altcoin achieving a new 52-week high.

With a favorable development for XRP in the Ripple vs SEC lawsuit, the XRP price has successfully retested its important support level. Moreover, with a trading volume of $6.67 billion, this altcoin is currently valued at $1.54.

Amid the ongoing price volatility, will Ripple (XRP) price reach $2 this year? Read our in-depth Ripple price analysis article to find out!

XRP Price Records Increased Bullish Action!

The Ripple price has reclaimed the $1.5 mark with an intraday surge of ~7% and a trading volume of $6.671 billion. Moreover, it has formed a triangle pattern and is on the path of testing its resistance trendline.

The Simple Moving Average (SMA) constantly supports the Ripple price chart in the 4H time frame. This highlights an increase in the buying-over-selling pressure in the cryptocurrency market.

Further, the Relative Strength Index (RSI) continues hovering above the mid-point, with its average trendline experiencing a steady rise. This suggests that the altcoin may continue gaining value in the upcoming time.

Will XRP Rise Back Up?

If the bulls maintain their bullish sentiment, the Ripple price will retest its 52-week high around the $1.65 mark.

Conversely, a bearish action could pull the price toward its important support level of $1.43 during the upcoming hours.

Curious to find out the long-term price prospects of Ripple tokens? Read CoinPedia’s XRP Price Prediction and also subscribe to us to stay updated on the latest crypto news!

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