The lower area of the long term XRP chart pattern is being tested suggesting a ‘make or break’ moment is here.
XRP is relatively weak lately.
While it’s concerning yet that XRP is dropping, it is important to understand the threshold: opportunity vs. threat.
That’s the focus of this article.
XRP price analysis for November 2024
We stay focused, since many months, on the secular XRP chart.
We use this also for our XPR forecasts.
As seen, there are 3 key chart characteristics:
- The giant, unusually large, triangle pattern. For now, this remains bullish.
- The symmetric nature, twice 171 weeks, of the W-structure. XRP had a great opportunity to complete it, resolve to the upside, in July 2024; it did not happen though.
- The resolution of the entire triangle, due in the first quarter of 2025.
Stated differently, XRP price analysis for November 2024 is centralized around one, and only one, thing: respecting the long term triangle on a 3-week closing basis.
XRP price analysis – opportunity vs. threat
We realize that the XRP community wants to hear one thing only – XRP will resolve higher.
While we are in the bullish camp (ultimately XRP should resolve higher), there is always an opposite viewpoint which must be reviewed.
Case in point: in this post, analyst looks takes the bullish triangle and concludes XRP must and will resolve higher:
this bull run will melt faces #XRP pic.twitter.com/WRvworDCAJ
— Amonyx (@amonbuy) October 21, 2024
What’s not fair to average investor and XRP enthusiast is that the invalidation criteria are not shared.
- XRP will for sure drop below the triangle, because we predicted a volatility window to start on Oct 20th, 2024 (+/- 3 days). We prepared our premium crypto investing members, back in May already, that 3 days before and after Oct 20th would come with elevated volatility.
- Irrespective of our accurate forecast, any analyst owes his readers a’ what if’ statement.
The point is this – XRP may drop below its triangle for 5 days (even 8) but should move back up not later than day 6 (or 9). Moreover, if XRP continues to stay below its triangle, it should close the week ideally above it and do so once again the week after, to avoid a bearish trend.
XRP price implications for 2025
If the above conditions in XRP are met, we forecast a very bullish 2025.
As explained in our XRP Price Prediction 2025:
- Expect elevated volatility levels in the coming 3 to 6 weeks – ‘buy the dip in the $0.48 to $0.51 area‘.
- The price of XRP is predicted to exceed $0.66 before the last days of 2024. If this prediction is materialized, the stage will be set for future XRP swings in the area $0.88 to $1.91. This XRP time prediction will determine the longer term bullish outcome.
- If XRP exceed $0.62 before March 31st, 2025, it will qualify as an equally bullish (say, ultra bullish outcome).
Be prepared for elevated volatility levels, our best guess in two directions. XRP in November 2024 will all be about proving strength which will determine its path in 2025.
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