Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
XRP Price Prediction: Trader Says Elliot Wave Pattern Suggests Huge Breakout For Ripple Token, While Crypto All-Stars Presale Passes $4.6M

XRP Price Prediction: Trader Says Elliot Wave Pattern Suggests Huge Breakout For Ripple Token, While Crypto All-Stars Presale Passes $4.6M

InsidebitcoinInsidebitcoin2024/11/20 16:00
By:Insidebitcoin

The XRP price tumbled 2% in the last 24 hours to trade at $1.08 as of 02:17 a.m. EST on trading volume that slumped 27% to $5.6 billion.

This comes as the Ripple token price appears to be on the verge of a significant breakout, with Armando Pantoja, an analyst on X, predicting that the XRP price could reach between $8 and $30 from its current level. According to Pantoja, Elliot wave patterns indicate a major rally for XRP is imminent.

Moreover, the analyst noted that the potential exit of the SEC chair, Gary Gensler, will also help push the XRP price up.

XRP Price On A Sustained Rally

The XRP/USD chart analysis is displaying a strong bullish trend in the recent weeks, evidenced by the parabolic price movement in November. The bulls capitalized on the $0.55 level to push the price of XRP through the sustained rally, according to data from GeckoTerminal.

This is confirmed by the sharp upward slope of the 50-day Simple Moving Average (SMA), which is positioned well above the 200-day SMA. The classic “golden cross” occurred earlier, when the 50-day SMA crossed above the 200-day SMA, forming around $0.55, which confirms the bullish stance.

Meanwhile, the Relative Strength Index (RSI) is at 80, which shows that the market is at extreme overbought levels. This suggests that while the bullish momentum is strong, the asset might be due for a cooldown or price correction in the short term. However, in a strong uptrend like this, RSI can remain overbought for extended periods before a pullback.

The Moving Average Convergence Divergence (MACD) is bullishly aligned, with the MACD line above the signal line, and both lines well above the zero line. This confirms strong bullish momentum. The histogram shows positive momentum increasing sharply, but the leveling off in the histogram bars suggests momentum may begin to fade soon.

XRP recently peaked at $1.20, now serving as immediate resistance. If the bullish trend holds, this level could be the next target.

XRP Price Prediction: Trader Says Elliot Wave Pattern Suggests Huge Breakout For Ripple Token, While Crypto All-Stars Presale Passes $4.6M image 0 XRP Price Prediction: Trader Says Elliot Wave Pattern Suggests Huge Breakout For Ripple Token, While Crypto All-Stars Presale Passes $4.6M image 1 XRPUSD Chart Analysis Source: GeckoTerminal

Previous resistance levels around $1.00 and $0.80 may now act as support if a pullback occurs. These levels coincide with psychological round numbers and previous consolidation zones.

As the XRP price aims for a sustained rally, investors looking for alternatives may want to consider Crypto All-Stars (STARS), which according to ClayBro, a prominent crypto analyst on YouTube with over 130K subscribers, has the potential to soar 10X after its launch.

Crypto All-Stars Presale Secures Over $4.6 Million – Best Crypto To Buy Now?

Crypto All-Stars ($STARS) is a groundbreaking project that brings the MemeVault ecosystem into the crypto world, allowing investors to stake multiple meme coins in one place for the first time, earning rewards in $STARS tokens.

Supported meme coins include Pepe, Dogecoin, Shiba Inu, Floki, as well as Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. The platform plans to expand its list of stakeable meme coins in the coming months.

Traders can also stake STARS tokens for a huge 389% annual percentage yield (APY).

The project has seen explosive growth, surpassing the $4.6 million milestone today after raising more than $1 million in the past week alone. 

Currently, $STARS is available for just $0.0015869. With a price hike due in about 2 days, buy soon to lock in the best deal.

Purchase $STARS from its official website here using BNB, USDT, or a bank card .

Related News

  • Bitcoin Price Hits ATH After Trump Makes Howard Lutnick Commerce Secretary
  • BONK Soars 11% To A New ATH As Experts Laud This Rival
  • Top Meme Coins To Buy Today, November 19
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Anti-Inflation Crypto Approach Gains Momentum: Noomez's Plan Guides Investors Toward Change

- Noomez ($NNZ) emerges as anti-inflation meme coin with 28-stage roadmap to compress supply through burns and capped allocations. - Stage-specific airdrops, 66% APY staking, and 10% referral bonuses create compounding incentives for early participants. - Market shifts toward transparent tokenomics as investors prioritize fixed pricing curves and limited supply over speculative projects. - With 3.1B tokens sold and shrinking allocations, Noomez's structured approach positions it to outperform in inflation-

Bitget-RWA2025/11/29 01:28
Anti-Inflation Crypto Approach Gains Momentum: Noomez's Plan Guides Investors Toward Change

Bitcoin News Update: SpaceX's Move with Bitcoin Signals Institutional Trust in Long-Term Holding Approaches

- SpaceX transferred 1,163 Bitcoin ($105M) to Coinbase Prime, signaling institutional custody strategy over sell-off. - This follows October's $133.7M BTC transfer, with SpaceX now holding 6,095 BTC ($553M), ranking fourth in private corporate holdings. - Analysts confirm strategic reorganization, citing no liquidation trails and enhanced security focus, contrasting Tesla's static $1.05B BTC stash. - Market reacts cautiously optimistic as institutional Bitcoin management gains traction, with SpaceX's moves

Bitget-RWA2025/11/29 01:28
Bitcoin News Update: SpaceX's Move with Bitcoin Signals Institutional Trust in Long-Term Holding Approaches

Spirit Blockchain Faces Leadership Challenges as Interim CFO Navigates Regulatory Uncertainty

- Spirit Blockchain filed interim financial reports and MD&A for Q3 2025, with CEO Lewis Bateman serving as interim CFO after Inder Saini's departure. - The blockchain infrastructure firm focuses on recurring revenue through licensing and digital asset support, navigating regulatory risks and market volatility. - A separate SPIR-listed Spire Global faces NYSE delisting risks for missing filings, creating potential investor confusion between the two unrelated companies. - Bateman's dual role may streamline

Bitget-RWA2025/11/29 01:12
Spirit Blockchain Faces Leadership Challenges as Interim CFO Navigates Regulatory Uncertainty

ZEC drops 20.91% in a week as surging retail activity heats up the futures market

- Zcash (ZEC) rose 0.28% in 24 hours but fell 20.91% weekly amid volatile derivative markets and shifting demand. - Stagnant shielded pool activity, including the Orchard and Sapling pools, signals weakening demand for ZEC's privacy features. - Overheated retail-driven futures markets and declining open interest highlight risks of sharp corrections after historical patterns. - ZEC approaches critical $436 support level, with analysts warning of potential 30% declines if technical indicators break.

Bitget-RWA2025/11/29 01:08
ZEC drops 20.91% in a week as surging retail activity heats up the futures market