Speaking of Analytics: Is a Ripple (XRP) Pump on Its Way?
Tags: blockchain, cryptocurrency, news
Published: 2023-11-21 15:29:18

_“Anticipate the forthcoming Mega Pump, yet exercise caution by strategically allocating portions of your holdings,” EGRAG CRYPTO stated.
_
According to [CryptoPotato](https://cryptopotato.com/is-a-ripple-xrp-mega-pump-on-its-way-this-analyst-thinks-so/) Analysis:

1. **XRP Price Trends:** XRP dipped to $0.59 in November, slightly recovered to $0.61, but remains below its early November price of $0.70.
2. **Analysts’ Optimism:** EGRAG CRYPTO predicts a potential price increase to $0.85 for XRP, while Dark Defender forecasts a target of $0.87-$1.05.
3. **Influences on Market:** The introduction of crypto ETFs in the US is expected to positively impact the digital asset sector.
![Image description](https://dev-to-uploads.s3.amazonaws.com/uploads/articles/pn1nrceuy7t7fst6vzsz.jpg)

During the last week, the 24-hour trading window saw XRP’s price fluctuate between $0.643 and $0.731, demonstrating a volatility market response. This volatility is partly attributed to the unfounded rumors regarding Blackrock’s alleged registration of an XRP ETF. Despite these speculations, XRP’s market capitalization remains at $35.10 billion, with a 24-hour trading volume of $2.99 billion.

Based on the [Bitcoin.com](https://news.bitcoin.com/xrp-technical-analysis-market-navigates-rumor-induced-volatility/) Analysis:

Analyzing the relative strength index (RSI), XRP exhibits a value of 61.99, indicating a neutral stance in the market at press time. This suggests that XRP is neither overbought nor oversold, providing a somewhat stabler ground for traders. The market’s reaction to rumors and news often reflects in such oscillators, with the RSI being a primary indicator of market sentiment after such events.

One popular analyst using the X (Twitter) handle Dark Defender suggested that XRP could jump by more than 30% by the end of the week, envisioning a $0.87 mark for November 19. To do so, it must overcome the $0.68 mark, which they described as “small resistance.”

The X user EGRAG CRYPTO has been even more bullish, claiming the asset has a chance to ascend to as high as $1.40 by the end of 2023 should it overcome a major resistance level, described as a “consolidation” zone.
Last but not least, we will touch upon a forecast according to which XRP might be on the verge of forming a so-called “God candle.” The cryptocurrency analyst Tony “The Bull” observed certain charts and assumed such an event could be in the cards.
They argued that XRP’s current market dynamics seem similar to the ones from the bull run in 2017. The analyst reminded that back then, the asset experienced a 900% “God candle,” hinting this might be the case in the near future, too.

[FXStreet](https://www.fxstreet.com/cryptocurrencies/news/xrp-price-eyes-068-target-as-ripple-resumes-uptrend-amidst-institutional-capital-inflow-202311210603) Analysis:

XRP price is in an uptrend in November 2023. The altcoin is on track to extend its gains, with the recent developments in the altcoin. XRP price eyes the 50% retracement level of the decline from the July 13 top of $0.93 to Aug 17 low of $0.42.
XRP price is likely to rally to the $0.68 mark, over 10% gains from the current level. The altcoin could find support at the 50-day Exponential Moving Average (EMA) at $0.59, in the event of a decline.

A close below the 50-day EMA could invalidate the bullish thesis for the asset and suggest further correction in XRP price.