The XRP Price Is About To Do This In November – “Get Ready”

Crypto analyst ChartNerd has reiterated his bullish outlook for XRP, telling holders to “prepare” because the token seems to have completed an important technical setup he first highlighted in October. 

In a publish on X, the analyst pointed to XRP revisiting its 55-week exponential transferring common (WEMA) across the $2.20 area, a transfer he predicted practically a month earlier when the token was buying and selling above $2.50.

Analyst Says Get Ready For XRP

On October 15, ChartNerd instructed followers on the social media platform X that XRP was prone to revisit its 55 WEMA within the $2.20 vary earlier than catapulting to new ATHs. In the weeks since, the token’s gradual pullback confirmed that forecast, touching the 55-week common at the beginning of November. 

The analyst has since resurfaced with a follow-up publish captioned merely “$XRP: GET READY ,” that means that the consolidation section might now be giving strategy to the breakout stage.

This stage has been a dependable reference level for the altcoin’s cyclical momentum, and it has all the time acted as a basis for sustained breakouts. The construction on the weekly chart has adopted this in an identical bullish setup in November 2024, and the latest protection of this assist space suggests renewed power amongst medium- and long-term holders. Analysts like ChartNerd see the retest as the ultimate step earlier than a broader transfer towards worth discovery.

What To Expect As November Progresses

From a structural standpoint, XRP’s chart is still maintaining its long-term bullish sample, because of increased lows preserved throughout the weekly timeframe. The indisputable fact that the token has managed to carry above $2.20 strengthens the assist round this stage.

The the rest of November may very well be decisive for whether or not XRP transitions from correction to enlargement. A sustained bounce above the 55 WEMA would affirm the start of the subsequent upward leg envisioned in ChartNerd’s evaluation. Such affirmation might entice new inflows, particularly from merchants monitoring the indicator’s reliability.

In one other technical evaluation, CharNerd revealed that the $2.70 worth stage is the rapid resistance to interrupt to ensure that the altcoin to begin pushing again to ATHs. From there, the subsequent technical goal is round $3.00, with a continuation to $3.60 and $4.00 as soon as the complete crypto market sentiment turns into bullish once more.

However, the bullish outlook is contingent on holding above the 55 WEMA. Failure to take action will flip it into resistance, and the bullish setup would have to be reassessed. In that state of affairs, the token may re-enter a broader consolidation vary by means of December earlier than any try to interrupt increased.

At the time of writing, XRP is buying and selling at $2.48, up by 8.1% previously 24 hours.