XRP price is popular right now as it reportedly trades at just above $2.15, which is about 2% up in the last 24 trading hours. Some analysts opine that XRP is ranging but it is in an upward trend. If deciding on the long-term trend, important levels are located near $1.50 / $1.79; buyers are expecting a higher value for December 24. However, the market appears ill-prepared to sustain fresh highs, and traders are waiting for that decisive breakout to push the price higher.
Consolidation Phase and Possibility of Higher Prices
Currently, the price of XRP price has entered a consolidation phase that is common before any bull breaks out. Technical analysts are optimistic, which states if XRP price ensures its bullish run and breaks crucial resistance ranges, then it might perhaps reach its all-time high subsequently.
“As for now, XRP has great potential, but we need to break through the $2.72 price level to confirm a bullish trend,” said John Carter, a senior crypto analyst at Crypto Insight. “The support is at $1.96, a breakdown of this level means that the price may revisit the lower Fibonacci levels.”
The consolidation phase may induce less volatility and ranging boundary movement as was staged by the XRP price in the recent past. Some analysts noted that this might be establishing an Elliott Wave triangle, a formation that often leads to another steep price range.
Therefore, to continue holding a bullish view, XRP needs to stand above the low of C-wave at $1.94. Its further decline below this level may entrap the price into the Fibonacci support area of $1.39-$1.80, which may signal new consolidation or correction.
Short-Term Outlook: Sideways Consolidation
For short-term trading, XRP price is ‘lagging’ the rest of the altcoins, including Hedera Hashgraph (HBAR), in their sideways consolidation. Although this may seem rather dormant, it creates the necessary background for sharp changes in price.
Crypto analyst Sarah Thompson from BlockChain Weekly said, “This is quite fluid see here not to talk of Ripple’s XRP mainly because such is typical with any crypto-market – it just needs to consolidate.” To this end, the price of XRP must remain above this critical noticeably and hold support from buyers at $2.15.”
In traders’ view, the immediate resistance stays at $2.72. A breakout from this level could mean the resumption of the bullish chart pattern in which the all-time high could be targeted. On the downside, if the XRP price fails to rise beyond $1.96, it could mean a deeper correction and a lower support area between $1.50 and $1.79.
This sideways movement may continue until other and more definitive trends in the markets are likely to occur. For now, we only speak about the stock market keeping a rather positive outlook, with the cryptocurrency market getting some attention regarding institutional investors’ inflow.
Conclusion: Waiting for Confirmation for XRP Price
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For now Ripple’s XRP price continues to play the waiting game while key levels are in focus. $1.96 holds the status of the most crucial support level on this route; as for the resistance level, $2.72 is to be considered as the most important one. An outbreak in either direction will define the next move in the market.
This is because investors and traders are closely watching these levels in order to make their decisions. There is a positive sentiment available above $2.15 for the XRP price, and long-term prospects remain favourable. But market participants should approach the story with caution, since the breakout is still uncertain. Keep following The Bit Journal for the latest updates on XRP prices.
FAQs
- Q: What is the price of Ripple today?
Currently at the time of writing, the XRP is trading above $2.15, which indicates 2% increase in the last 24 hours.
- Q: What are the significant levels of support for the XRP price?
The specialists indicate the major areas of demand in the range of $1.50 – $1.79. A decline below $1.96 may push the pair down to a bigger correction inside this area.
- Q: Which levels of resistance must traders keep their eyes on?
This is rather a critical resistance level for the stock, which is currently pegged at $2.72. A price bar crossing through this level might signify a powerful bullish trend for Ripple’s XRP.
- Q: Will the XRP price rise up to its high level again?
XRP looks bullish in the short term, but reaching new highs will entail overcoming important barriers and improving the state of the market.
- Q: What are peoples’ emotions towards XRP in the markets?
Over the market, people continue to be cautiously positive, usually cautious in their assessments, stressing below $2.15 must be held for a better continuation of the upward movement.
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Disclaimer
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
