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XRP Bull Run will not stop


XRP broke out of its second accumulation period in over 3 months. This saw XRP close 5% up on the day.

This morning, 6th November, XRP broke out again of its uptrend to continue in that direction – increasing by 3%.

Where does Nouvive see XRP going today? 

Bullish Bias:

  • The bulls have positive momentum in their favour – especially considering there will be an increase of positive fundamental news in the next few weeks.
  • Increased buy-side support especially considering it is constantly breaking resistance levels.
  • RSI Stochastic is unable to cross-over despite being over-brought – it is believed by Nouvive Research that RSI Stochastic will not work in the next coming weeks.
  • It is believed that considering its positive momentum it will break the current resistance that is $0.53 – if that happens – $0.62 is next on the cards with $0.79 occurring thereafter.

Bearish Bias: 

  • The XRP run will be stopped at some point.
  • RSI Stochastic is illustrating over-brought
  • If it is unable to break through the $0.53 resistance level – this will show a double top and it will fall past $0.42.

Nouvive sees that XRP will reach $0.62 within the next 3 days. 

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