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XRP & ADA Price Action: Analyst Maps Next Directions for XRP & Cardano Price!

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Bitcoin price plunged to $42,732.98 on Saturday, down 3.95% in the last 24 hours. The market cap of the largest cryptocurrency stood at $801.92 billion. Bears have seized the initiative by the end of the week as all of the coins from the top 10 list are in the red zone.

Micheal van de Poppe has updated his forecasts for XRP Price, Cardano Price along with two popular altcoins.  

ADA

He’s presuming that Cardano is close to bottoming out at this point, at which point we can expect new impulse waves to emerge. The crypto expert claims that ADA Price has breached key price levels, crossing the $1.90 to $2.10 zone.

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Van de Poppe then turns his attention to the token’s Bitcoin pair (ADA/BTC), predicting that Cardano might reach new highs. 

According to him, we should see some small consolidation, similar to what we saw in April. So there will be some stabilization here before we break resistance, but if we do, he believes we’ll be setting new all-time highs or new highs for Cardano here as well.” 

XRP

An important price level for XRP Price has also been identified by the trader, which might imply a bullish signal for the crypto market.

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He believes that if you want to get into the markets, now is the time to do it because the market has finally bottomed out and is ready for the next impulsive wave. 

What is the XRP level of difficulty to crack? It needs to break through the area around $1.05 to be successful. I don’t think we’ll receive it all at once, but I do believe that once it gets through there, all coins will start breaking out left and right. However, on XRP, this is a good candle.” 

The widely-followed expert believes that the current downturn is a good time to enter the market, recommending Avalanche (AVAX), Solana (SOL), and Fantom (FTM) as three altcoins to buy now while prices are low.

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Should You Be Getting Interested In The Markets When It’s Approaching Support And When Projects Are Dropping Down By About Like 35% To 45%? Yes, Of Course. When You Get Towards The Support, People Will Ultimately Become Quite Bearish And They Are Only Expecting Further Downward Momentum. That Is The Moment That You Want To Get Into The Markets.”

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XRP Forecast and Analysis December 3, 2021

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XRP/USD are trading at 0.9647 and continue to move as part of the correction and the formation of the ”Triangle” pattern. The capitalization of the Ripple cryptocurrency at the time of the publication of the forecast is $45,790,736,775. Moving averages indicate a short-term bearish trend for Ripple. Prices are again testing the area between the signal lines, which indicates pressure from the sellers of the asset and a potential continuation of the XRP rate decline in the market already from current levels. At the moment, we should expect an attempt to develop asset growth and test the resistance level near the area of ​​1.0005. Further, a rebound downward and the continuation of the fall of the cryptocurrency to the area below the level of 0.8005.

XRP Forecast and Analysis December 3, 2021

In favor of falling XRP/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. The second signal in favor of a decline in asset quotes will be a rebound from the upper border of the ”Triangle” model. Cancellation of the option of falling cryptocurrency will be a strong rise and closing of quotations above the level of 1.1305. This will indicate a breakdown of the resistance area and continued growth of XRP/USD to the area above the level of 1.2155. Confirmation of the fall in the digital currency rate will be the breakdown of the support area and the closing of prices below 0.9005, which will indicate a breakdown of the lower border of the ”Triangle” model.

XRP Forecast and Analysis December 3, 2021

XRP Forecast and Analysis December 3, 2021 implies an attempt to test the resistance level near the 1.0005 area. Where can we expect the cryptocurrency to continue falling with a potential target at the level of 0.8005. An additional signal in favor of a decline in Ripple will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to drop quotations will be a strong growth and a breakdown of the 1.1305 area. In this case, we should expect a continuation of the rise in the digital currency with a target above 1.2155.

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XRP Price Prediction: Ripple Price Could Drop 14% To $0.8405

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XRP price dropped below the $1.0 psychological level on November 26, unravelling a possible bearish forecast. This provided a buying opportunity for investors who bought the dip, but the uptrend hit a wall and got stopped by the upper boundary of the descending parallel channel. This chart pattern continues to govern XRP’s price action pointing to further losses.

XRP Price Bears Contemplate A 14% Decline To $0.8405

Ripple price fell below the $1.0 psychological level on November 26, paving the way for further losses. The bulls of the international remittances token attempted to undo the losses in four straight bullish sessions between November 27 and 30, but their efforts were curtailed by resistance from the upper boundary of the governing chart pattern.

XRP price is trading at upper boundary of the descending parallel channel around $0.9787 as seen on the daily chart. A descending parallel channel is a significantly bearish chart pattern that suggests a continued bearish leg as long as the price of an asset remains within the confines of the falling channel.

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If Ripple price fails to rise above the falling channel, it may drop towards the middle boundary of the channel at $0.9094. A further drop past this level could see XRP/USD drop to tag the lower boundary of the channel at $0.8425, a 14% drop from the current price.

The down-sloping moving averages and the position of the Relative Strength Index (RSI) indicator at 38.97 close to the oversold region suggest that Ripple is firmly in the hands of the bears, accentuating this bearish outlook.

XRP/USD Daily Chart Live Chart

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XRP price daily chart

On the upside, the bearish thesis could be invalidated if XRP price overcomes the immediate resistance at $0.9844 embraced by the upper boundary of the governing channel. If this happens, XRP price may potentially undo the losses that began on November 08 by breaking out to regain the $1.00 level.

A movement further up could take Ripple towards the $1.09 level where the 50 and 100-day SMAs coincide.

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XRP Whale Withdraws 150 Million Coins from Binance

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Another XRP whale moves his or her funds from the exchange, now storing $150 million in a private wallet

The transaction made only a few hours ago was one of the largest non-exchange transactions made on the XRP blockchain in the last few months, according to Whale Alert.

The $150 million transaction

According to the transaction page, an anonymous whale has moved 150 million XRP coins worth approximately $150 million from Binance exchange to an unknown wallet that is currently holding 150 million coins.

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Previously, the same wallet has been making small, insignificant transactions to various exchanges worth approximately $20-$30. The first large transaction has been made.

After receiving significant funds, the wallet spent approximately 100,000 coins by transferring them to UpBit exchange. The purpose behind such unusual funds redistribution remains undisclosed.

Ripple’s price action

Ripple’s price does not seem to consider major funds moving in a market with the price continuously moving in the same trend. The asset has broken the four-day uptrend by dropping below $0.98.

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XRP Daily Chart
Source: TradingView 

XRP was one of many victims of the global cryptocurrency market correction that took place on the market due to a rise of risk-off tendencies after the aggravation of the pandemic all over the world.

Previously, U.Today reported that numerous whales have made large transactions from various centralized exchanges back to their wallets. Such a trend is tied to overall outflows tendencies on the cryptocurrency market.

At press time, XRP is trading at $0.97 while losing 1.2% of its value. The price of the asset gained 6.2% in the previous local uptrend.

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