Top Analyst Sees Chance Of XRP Price At 0.90 In November 2023

Ripple’s native cryptocurrency XRP price continues to maintain stability around the current level of $0.59, following the recent upsurge in crypto market momentum on the upside. With the local resistance playing out in the existing price, analysts expect a positive outcome for the cryptocurrency going into November 2023.

Also Read: Bitcoin Price Prediction After Completely Invalidating The Bearish Fractal, Has Pre-Halving Rally Began?

Will XRP Break Local Resistance?

Analyst CrediBULL Crypto said that the XRP price is going through a logical level resistance and that this does not mean there could be huge drop down if the token fails to breach resistance. Rising on the overall positive momentum in recent days for crypto market, the token price rose by an impressive 7% over the last one week. The analyst believes XRP is facing resistance all the way up to just below $0.70.

“If XRP can get past the local resistance ($0.68), it is a very bullish sign and there’s a decent chance it breaks the resistance to reach highs around $0.90.”

Another analyst, Pentoshi had earlier predicted that a breakout above $0.54 could trigger a jump up to the $0.62 to $0.63 range for the token. On November 1, 2023, the token reached as high as $0.61 before making a slight correction.

$XRP fans

Breakout above .548 should lead towards .62-.63 pic.twitter.com/Ue2jYqU0T7

— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) October 23, 2023

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Consolidation Next?

CrediBULL said that in the current phase of resistance, a resistance to breakout to further highs does not necessarily mean massive drop in price but a consolidation for XRP price. Several altcoins are plagued by the lack of liquidity in the crypto market. An increase in liquidity could mean a breakout to larger highs. Earlier, CoinGape reported that increased liquidity could likely trigger a potential rally to $2 for the token, possibly in the lead up to Bitcoin Halving in the second quarter of 2024.

Also Read: “Block Harmful US SEC Crypto Accounting Rule”: Republican Lawmakers

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Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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