xrp crypto news

XRP lags while BTC and ETH take lead

XRP lags while BTC and ETH take lead
Written by publisher team

  • Bitcoin price continues to hit new highs as buyers exit the woodwork.
  • Ethereum price is stable at $5000 and showing no signs of slowing down.
  • Ripple price needs to flip $1.41 to the support floor to reconsider $2.

Bitcoin price is hovering within a crucial demand area that needs to hold for the rally to continue. A return of buying pressure pushing BTC to produce a daily close above it would confirm the resumption of the uptrend and suggest new highs to come. Such a move will also cause Etheruem and Ripple to rise as well.

Bitcoin price awaits bullish momentum

Bitcoin price entered the demand area of ​​$63,805 to $67,162 after establishing a new high at $68,778 on November 9. This drop was caused by investors taking profits and is likely to stabilize and reverse soon.

A daily close above $67,162 will confirm the start of a new bullish trend and push the large cryptocurrency to the 161.8% Fib Extension level at $77,908. This increase will be 17% more than the current situation

In a very bullish and long-term scenario, BTC is likely to reach a high of $100,000 or 261.8% Fibonacci trend based. This development will be historic because the price of Bitcoin will enter the six-digit region for the first time.

btc/usd chart for 1 day

On the other hand, if the bitcoin price fails to close above $67,162 but instead results in a daily close below $63,805, it will signal the buyers’ disappearance. In this scenario, BTC will reconsider the immediate support level at $65,000 or the $60,000 barrier in dire cases, where buyers can return.

Ethereum price continues upward trend

Ethereum price is currently following in the lead cryptocurrency as it retreated after establishing a new high at $4,849 on November 9. This downward swing is likely to find support around $4,660 or $4,387 before the uptrend resumes.

A possible increase in buying pressure will push ETH to the psychological $5,000 barrier. In an optimistic scenario, this rally may extend to $6,387, coinciding with the 161.8% Fib extension level.

ETH/USD 1 day chart

ETH/USD 1 day chart

Regardless of the bullish outlook, if Ethereum price drops below the psychological $4,000 level, it will reconsider the $3,600 stable support level. While this movement does not invalidate the bullish theory, it will delay the upside.

Ripple price finds a respite before another rise

Ripple price differs from Bitcoin or Ethereum as it faces a resistance area ranging from $1.31 to $1.41. This supply area is critical and stands in the way of XRP’s growth. Although the XRP price started its rally on November 3 when it exited a symmetrical triangle, it needs a daily close above $1.41 to confirm a move to $1.97, or around $2.

While a conservative target for the technical formation is likely to anticipate $2, an increase in buying pressure could trigger an overshoot, setting the 261.8% Fibonacci extension level at $2.32. In this case, Ripple price could extend the rally and run at an all-time high, settling around $3.31.

XRP/USD 1 Day Chart

XRP/USD 1 Day Chart

While things aren’t easy for Ripple’s price compared to BTC and ETH, a failure to close above $1.41 will further exaggerate it. This move could trigger a correction that retests the $1.17 support floor or the 50% Fib retracement level at $1.13. Here, XRP buyers can give another impetus to the bullish rally.

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