XRP short-term Price Analysis: 17 November

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XRP short-term Price Analysis: 17 November

After appearing extremely timid in the markets, XRP breached resistance at $0.258 on 13th November. The asset continued to surge in the markets and tested the $0.30 for the first time since 2nd September. Keeping the short-term spike in mind, XRP might encounter a quick pull-back in the charts over the next few hours. The short-term analysis suggested possibilities towards a reversal, identifying a local top blowout.


Source: XRP/USD on Trading View

As illustrated in the charts, XRP is currently following the trend within an ascending parabolic curve. It is important to keep in mind that several other assets have undertaken this price pattern over the past few weeks. Few of them have followed up with a bearish breakout, while the likes of BTC have continued to surge.

Learn more about the analysis here.