Ripple (XRP) price prediction for this week

XRP price action exploded in November. Here’s what you need to know.

Key Support Levels: $0.92

Key Resistance Levels: $1.6

1. XRP is consolidating after a strong rally

In November, the price of XRP rose by 200% and reached the resistance at $1.6. This is both impressive and surprising considering this cryptocurrency is one of the top 10 coins by market capitalization.

Ethereum, for example, only gained 50% over the same period. This has brought attention back to XRP and the price is consolidating below the key resistance level at the time of this post.

2. The trend remains bullish

The weekly MACD shows a clear bullish bias. There is also no weakness in the price movement and the histogram shows this by making higher highs. The most important takeaway is that XRP is likely to continue rising later.

3. Weekly RSI cooldown

While the overall momentum remains bullish, the weekly RSI shows that its intensity has waned and this is a healthy pullback before further gains. Once this consolidation is complete, key resistance at $1.6 could face renewed pressure.