XRP price wants to catch up with the rest of the market as bulls target $0.30

XRP is trying to follow the lead of Bitcoin, which has surpassed $15,000. The current price of XRP is $0.244 after a notable bounce from $0.228, where the 200-SMA is located on the daily chart.

Unfortunately, the 50-SMA is acting as a strong resistance level around $0.245 and has already rejected the price of XRP twice on November 2 and 3. It’s still possible for XRP bulls to crack this resistance level thanks to the renewed market FOMO (fear of missing out).

Can XRP hit $0.30 by the end of this month?

As stated above, the resistance level at $0.245, where the 50-SMA on the daily chart is established, remains the most critical short-term resistance point. A breakout above this level can push XRP towards the upper boundary of an old ascending triangle at $0.257.

XRP/USD daily chart

Potentially, bulls could crack $0.257 – which coincides with the 100 SMA – in one go and drive the price of XRP towards $0.3 as there is not a lot of resistance to the upside above that point.

On the other hand, another clear rejection from $0.245 can quickly push XRP towards the 200-SMA at $0.229. A further breakdown will drive Ripple to the low at $0.212, which was calculated as a bearish target using the height of the ascending triangle pattern.