XRP Analysis for November 17, 2024

Current Situation:

  • XRP price has reached $1.13

  • 22.62% increase in the last 24 hours

  • Trading volume increased to $15 billion

  • 75% growth over the past week

Key Indicators

Technical Levels:

  • Support: $0.804287, $0.717639, $0.657523

  • Resistance: $0.951051, $1.01, $1.10

  • RSI at 88.47 (overbought zone)

Market Sentiment:

  • Fear & Greed Index: 86 (Extreme Greed)

  • 29 indicators showing bullish signals

  • Only 4 indicators showing bearish signals

Fundamental Factors

Positive Catalysts:

  • Speculation about SEC Chairman Gary Gensler's resignation

  • Progress in Ripple's legal case

  • Significant whale accumulation - currently holding 45.61 billion XRP tokens

Forecast

Short-term:

  • Price target for November 21, 2024: $1.30 (potential 14.40% increase)

  • Possible achievement of $1.16 and $1.41 levels if momentum maintains



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