Chair

Bull Flag

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<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01.png" class="attachment-full size-full wp-post-image" alt="XRP price prediction chart" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01.png 2710w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
XRP Price Prediction: The crypto market is consolidating led by the largest digital asset <a href="https://coingape.com/bitcoin-btc-price-jumps-to-38000-as-exchange-supply-drops-to-5-year-low/?utm_source=24hrsupdatebitcoin">Bitcoin</a>&nbsp;and selected altcoins like XRP, ETH,&nbsp;<a href="https://coingape.com/markets/cardano-price-prediction-ada-at-a-crossroads-will-bullish-fractal-play-out-or-crash/">Cardano</a>, and more. The leading cross-border money remittance token, although remaining relatively unchanged in the last 24 hours, is down 2.1% in seven days and a cumulative 6% in a fortnight based on market data from <a rel="nofollow" href="https://www.coingecko.com/en/coins/xrp">CoinGecko</a>. 
<h2 class="p1" id="xrp-price-prediction-xrp-on-the-verge-of-26-move">XRP Price Prediction: XRP On The Verge of 26% Move</h2> 
The formation of a bull flag pattern on the four-hour chart hints at a 26% breakout if confirmed. This is a bullish pattern created by two price rallies set apart by a minor consolidation. 
Initially, buyers triumph over sellers as the price forms the flagpole. However, as the uptrend stalls, like in XRP’s case at $0.73, a correction takes place within parallel upper and lower trendiness—the flag. 
<a href="https://coingape.com/price/xrp/">XRP price</a>&nbsp;snapped out of the initial rally mainly due to profit taking which led to the formation of a tight range with slightly lower highs and lower lows. As bulls and bears tussle, a breakout is expected above the flag which would propel the XRP price 26% to $0.72. 
<figure id="attachment_167021" aria-describedby="caption-attachment-167021" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-167021" src="https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35.png" alt="XRP price prediction chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35.png 2710w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-25-35-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-167021" class="wp-caption-text">
 XRP price prediction chart | Tradingview
 </figcaption>
</figure> 
The ongoing mundane price action around $0.6 implies that traders are preparing for the next breakout should the price pierce through the upper range level, indicating that bulls have the reins and are ready to push another rally. 
Besides the flag pattern, the XRP price technical outlook is also shaped by the 200 Exponential Moving Average (EMA) (purple) resistance at $0.6083. 
Holding above this level means that momentum is growing in support of the bullish theory. 
Subsequent movement above the flag pattern resistance, which coincides with the 50 EMA (red) and the 200 EMA (blue) could mark the beginning of the rally to $0.73. 
Recommended for you:&nbsp;<a href="https://coingape.com/markets/bitcoin-price-consolidates-as-stubborn-38k-resistance-threatens-liquidity-sweep-at-33k-are-dips-profitable/">Bitcoin Price Consolidates As Stubborn $38k Resistance Threatens Liquidity Sweep At $33k, Are Dips Profitable?</a> 
The On-Balance Volume (OBV) indicator suggests that neither bulls nor bears have the upper hand at the moment. XRP price would keep consolidating until the next breakout. Therefore, caution is advised in the meantime to avoid sinking into losses and getting liquidated, especially with the Relative Strength Index (RSI) below the midline but above the oversold region. 
<img decoding="async" class="aligncenter wp-image-167022 size-full" src="https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01.png" alt="XRP price prediction chart" width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01.png 2710w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/XRPUSD_2023-11-30_15-45-01-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px"> 
Upholding support on the daily chart is the 50-day EMA at $0.5973. Below this level,&nbsp;<a href="https://coingape.com/another-whale-dumps-46-mln-xrp-price-to-tumble-below-0-60-support-again/?utm_source=24hrsupdatealtcoin">XRP price could seek liquidity at $0.58</a>&nbsp;– a support level highlighted by the 38.2% Fibonacci retracement. 
Other key levels to keep in mind going into December are the next key support at $0.54 and the 50% Fibonacci at $0.6135. Trading above this range would pave the way for gains to $0.73 (bull flag target) and later to highs above $1. 
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The post <a rel="nofollow" href="https://coingape.com/markets/xrp-price-prediction-can-bull-flag-pattern-drive-26-gains-in-december/">XRP Price Prediction: Can Bull Flag Pattern Drive 26% Gains In December?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

XRP Price Prediction: Can Bull Flag Pattern Drive 26% Gains In December?

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