After reaching a four-month high of $0.7297 on November 6, XRP has gone into a correction phase and is currently trading at $0.6805, down 1.63%% in the last 24 hours, according to CoinMarketCap.
XRP’s surge was triggered by the $0.6649 support level. This is shown on this 4-hour time frame chart and highlighted this support level as crucial. If this level holds, XRP is likely to continue its upward trend. However, if it breaks down below this level, further declines could occur.
XRP will consolidate in this area for a short period before resuming its upward trend.
Despite XRP’s drop below $0.7, XRP has bullish Trends. I identified two short-term targets, $0.8737 and $1.0593. This will send XRP to its highest price this year, surpassing its peak of $0.93, which was achieved in July after a favorable ruling in the lawsuit against the U.S. Securities and Exchange Commission (SEC).