Crypto Market Update: Bitcoin (BTC) and Ripple (XRP)
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Crypto Market Update: Bitcoin (BTC) and Ripple (XRP)

November 30, 2020      Jafrin Ahmed

Bitcoin (BTC) has not had a good performance this week. The cryptocurrency recovered from its weekly low of $18,003 to strike an intraweek gain of $19,497. The sell-orders saw the cryptocurrency fall through the support levels at $16,529 before a partial recovery to $18,100 by the end of the week. Meanwhile, it was a bullish start of the week, for Ripple’s XRP cryptocurrency. The price of XRP climbed up by 25.79% by the end of the week. Followed by the previous week’s 60.90% breakout, XRP’s price ended at $0.60568.

Bitcoin (BTC) Weekly Prediction Ahead

Bitcoin’s price dipped down by 1.05% at the end of the week on November 29th. The price of the cryptocurrency currently stands somewhere at $18,000. The cryptocurrency partially reversed to a 15.20% rally since the beginning of the week.

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A support is needed for the cryptocurrency to break out from last week’s high at $19,497. If one has to sideline an extended crypto rally, the first major resistance level and resistance at $19,500 would likely cap any upside.

Should another breakout occurs, the cryptocurrency could test resistance at $20,000 before any pullback. Meanwhile a second major resistance level is seen at $21,183.

If the cryptocurrency avoids falling thorough $18,003, the cryptocurrency could see its first major support level at $16,510.

Removing extended sell orders, Bitcoin should steer clear of sub-$15,000 support levels. If that happens, a second support level could be seen at $14,823.

At the time of publication, Bitcoin was up by 1.54%.

Ripple (XRP) Weekly Prediction Ahead

The price of Ripple (XRP) cryptocurrency would need to avoid falling through $0.6085 to support resistance at $0.7843. Support from the larger market is needed for the cryptocurrency to break through $0.07 levels.

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Excluding an extended crypto rally, a resistance at $0.70 could likely cap on any upsides. Should another breakout occur, XRP could test resistance at $0.80 before any pullback. While a second resistance level is seen at $0.9630.

Falling through 23.6% FIB of $0.6274 and the $0.6085 pivot would bring the 38.2% FIB of $0.5285 and the first major support level at $0.5285. Excluding an extended sell orders, the price of Ripple XRP should steer clear of the 62% FIB at $0.3687. The second major support level is seen at $0.2540.

At the time of publication, XRP was up by 3.98%.

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Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Being a HODLer she takes a keen interest in following the volatile Bitcoin charts. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.