The XRP price continues to exhibit a notable display of strength despite its corrective phase since it reached above $2.8 on December 3 for the first time in almost seven years. Interestingly, technical analysis shows the corrective phase has been highlighted by an ABC corrective pattern on the daily candlestick chart. Consequently, the XRP price […]
A Falling Wedge pattern has emerged on the XRP price chart, fueling speculation of a bullish reversal to new highs. According to a crypto analyst, XRP could reach three potential new price targets if it can break out of the Falling Wedge, with $2.8 being the highest target. Falling Wedge To Trigger XRP Price Surge To $2.8 The XRP price has been on a powerful uptrend in the past month, jumping from $0.5 to over $2 in just one month. Acknowledging this impressive performance, a crypto analyst on TradingView, known as ‘MBM_Crypto,’ has revealed that the XRP price has undergone a pullback and is currently “cooling off” in a Falling Wedge pattern after experiencing its massive upside move. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s What Happened Last Time A Falling Wedge is a technical chart pattern that indicates a potential price reversal to the upside. Typically seen as a bullish signal, this pattern often appears during a downtrend, featuring two converging trend lines sloping downwards. The TradingView analyst shared a chart detailing the XRP price action in a 2-hour time frame, highlighting the presence of a Falling Wedge pattern. The chart pointed out key areas where XRP is likely to encounter selling pressure, resistance, and indicate optimal buying levels for investors. The analyst suggests that purchasing XRP when its price breaks above $2.51 could be a strategic move, indicating a potential for a bullish breakout following the conclusion of its current consolidation phase. Additionally, he shared key take-profit targets for investors, suggesting that XRP was on track to potentially hit three bullish price milestones if it successfully breaks out of its Falling Wedge pattern. The first target for XRP is $2.6, followed by the second projected leap to $2.7, while the third and highest target is positioned at $2.8. For the XRP price to achieve these key price levels, the TradingView analyst has suggested that it will have to break above the blue resistance zone at $2.42, thus confirming a potential bullish continuation for the cryptocurrency. While the analyst is confident about his optimistic price projection, he has also acknowledged the possibility of a temporary pullback to $2.15 or even $1.96. Following this price correction, the crypto expert believes that XRP could eventually break out of the Falling Wedge and take off. Analyst Says XRP Is ”Super Bullish” Despite trading at $2.4 after experiencing a slight decline in the past weeks, analysts remain highly optimistic about XRP’s future price prospects. Dark Defender, a prominent crypto analyst on X (formerly Twitter), has declared that the XRP price is “super bullish” during this cycle. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible The analyst observed that XRP is on the verge of finalizing the ABC Corrective Wave pattern in the daily time frame, signaling a potential reversal and the beginning of an uptrend. This pattern will be confirmed once XRP breaks the $2.52 level. Dark Defender has forecasted that the XRP price could exceed this level within 24 hours, triggering a path to the $5.85 target before potentially skyrocketing to $18.22. Featured image created with Dall.E, chart from Tradingview.com
The XRP price break above the $1 and $2 price levels in recent weeks has put the cryptocurrency on the most bullish trajectory since 2018. Although the XRP price is seemingly consolidating since this notable run, analysts continue to anticipate another remarkable run-up that would eventually see it breaking into new all-time highs. According to […]
XRP price started a strong increase above the $2.25 resistance zone. The price is up over 10% and might aim for a move above the $2.50 resistance zone. XRP price started a fresh increase above the $2.25 zone. The price is now trading above $2.30 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2.215 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.475 resistance. XRP Price Starts Fresh Increase XRP price started a decent upward move above the $2.20 level, beating Bitcoin and Ethereum. There was a move above the $2.25 and $2.30 resistance levels. During the increase, there was a break above a key bearish trend line with resistance at $2.215 on the hourly chart of the XRP/USD pair. The pair was able to surpass the 61.8% Fib retracement level of the downward wave from the $2.64 swing high to the $1.899 low. However, the bears are active below the $2.475 level. It coincides with the 76.4% Fib retracement level of the downward wave from the $2.64 swing high to the $1.899 low. The price is now trading above $2.350 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.45 level. The first major resistance is near the $2.4750 level. The next resistance is $2.50. A clear move above the $2.50 resistance might send the price toward the $2.550 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.720 in the near term. The next major hurdle for the bulls might be $2.880. Another Pullback? If XRP fails to clear the $2.475 resistance zone, it could start another decline. Initial support on the downside is near the $2.280 level. The next major support is near the $2.20 level. If there is a downside break and a close below the $2.20 level, the price might continue to decline toward the $2.080 support. The next major support sits near the $2.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.280 and $2.200. Major Resistance Levels – $2.4750 and $2.6450.
Crypto analyst Dark Defender has revealed a target to watch out for as the XRP price targets a new all-time high (ATH). The analyst made this prediction based on his wave analysis, which showed that XRP is still bullish. XRP Price To Hit New ATH At $5.85 In an X post, Dark Defender predicted that the XRP price could reach a new ATH of $5.85 based on his ABC wave analysis. The analyst stated that XRP set the ABC wave when the crypto was at Wave A. He further noted that XRP has bounced back from the $1.88 support level. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next With this development, the analyst is confident that the XRP price rally to $5.85 has begun. The analyst recently revealed that a bull flag appeared on XRP’s weekly chart, which showed that the crypto could reach as high as $11 by early 2025. Based on his Elliot Wave theory, the analyst had also previously predicted that the XRP market top could be around $18. In the meantime, the goal is for the XRP price to surpass its current ATH of $3.80 and reach $5.85, as Dark Defender has predicted. XRP has witnessed a price correction following its parabolic rally of over 200% last month. However, the crypto looks well primed for its next leg up. From a fundamental perspective, the XRP price boasts a bullish outlook, especially following New York’s approval of the RLUSD stablecoin. Ripple’s CEO Brad Garlinghouse confirmed that exchange and partner listings are set to follow and that RLUSD will launch soon. This development caused the price to experience a significant bounce. Meanwhile, crypto analyst TheXRPguy listed the RLUSD launch as one of the events that market participants wait for before they consider selling their coins. The stablecoin launch would inject more liquidity into the XRP ecosystem, which could spark a significant surge in the XRP price. The Stars Are Aligning For XRP In an X post, crypto analyst CrediBULL Crypto said that the stars are aligning for a massive bull run for the XRP price. He made this statement while alluding to the fact that experts predict that the US Securities and Exchange Commission (SEC) could dismiss its appeal against Ripple when the new administration comes in. Related Reading: This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target He noted that the SEC lawsuit is the last “lone cloud” lingering above the XRP community. As such, dismissing the appeal could boost investors’ confidence in the crypto, providing a bullish outlook for the XRP price. CrediBULL Crypto suggested that XRP could reach as high as $10 in this bull run while stating that there should be more than one wave of upside remaining. At the time of writing, the XRP price is trading at around $2.34, up over 8% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
On Tuesday, Ripple CEO Brad Garlinghouse revealed that the New York State Department of Financial Services (NYSDFS) has granted final approval for the firm’s inaugural stablecoin, RLUSD. Ripple Set To Enter Stablecoin Market With the release of RLUSD, Ripple hopes to provide a reliable option for clients interested in digital currencies while limiting the volatility […]
Data shows the cryptocurrency market has registered large liquidations in the past day as altcoins like Dogecoin and XRP have crashed. Cryptocurrency Derivatives Market Has Just Seen Massive Long Liquidations According to data from CoinGlass, a mass amount of liquidations have piled up over on the derivatives side of the cryptocurrency sector during the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes when its bet fails enough to accumulate losses equal to a certain degree (the exact value of which may differ between platforms). Related Reading: Bitcoin HODLing Rewards: Long-Term Holders Selling At 326% Profit Below is a table that breaks down the relevant numbers related to the liquidations from the past day. As is visible, there have been total liquidations of cryptocurrency-related contracts worth a whopping $1.56 billion in the past day. The long holders were involved in an overwhelming majority of this flush, with liquidations associated with them standing at $1.39 billion (almost 90% of the total). The reason behind the large liquidations is the crash that the altcoin market has faced during this window, with many popular coins like XRP and Dogecoin being down double digits. It would appear that many traders had set up bullish positions on the market, hoping that the recent momentum led by Bitcoin’s exploration to new highs would continue shortly. BTC has interestingly managed to limit its losses to just 2%, but evidently, the rest of the market hasn’t been so lucky. As for which of the assets was responsible for the most liquidations, the below heatmap shows it. Usually, Bitcoin leads the market liquidations, but it appears the second largest cryptocurrency by market cap, Ethereum has instead contributed the most towards the flush with $229 million in positions. Dogecoin and XRP have followed BTC’s $173 million liquidations with flushes of $88 million and $68 million, respectively. Their large liquidations are likely due to their popularity and the notable scale of drawdown they have seen. It would also seem that the speculative interest in the sector has been so deep recently that the small cap assets (referred to as ‘others’ in the heatmap) have added up to a massive $496 million liquidation. Related Reading: Analyst Sets $4.40 XRP Target As 3rd-Straight Bull Pennant Forms Mass liquidation events aren’t particularly rare in the cryptocurrency sector, but today’s flush has been extraordinary even for the market’s standards. These events happen from time to time because coins across the board generally display notable volatility, and a lot of speculators opt for risky amounts of leverage. These two conditions have been particularly pronounced recently, which is why the derivatives sector has exploded in this fashion. XRP Price At the time of writing, XRP is trading around $2.09, down almost 15% in the last seven days. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com
XRP price found support near the $1.90 zone. The price is recovering losses and the bulls might soon aim for a move above the $2.35 resistance zone. XRP price started a fresh decline below the $2.25 zone. The price is now trading below $2.320 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2.22 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.36 resistance. XRP Price Eyes Fresh Surge XRP price extended its decline below the $2.30 level like Bitcoin and Ethereum. There was a move below the $2.20 and $2.050 levels. The price even dived below the $2.00 support. A low was formed at $1.898 and the price is now correcting some losses. There was a move above the $2.20 level. The price climbed above the 50% Fib retracement level of the downward move from the $2.64 swing high to the $1.898 low. Besides, there was a break above a connecting bearish trend line with resistance at $2.22 on the hourly chart of the XRP/USD pair. The pair even spiked above the 61.8% Fib retracement level of the downward move from the $2.64 swing high to the $1.898 low. However, the bears are active below the $2.40 level. The price is now trading below $2.320 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.36 level. The first major resistance is near the $2.40 level. The next resistance is $2.475. A clear move above the $2.4750 resistance might send the price toward the $2.550 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.720 in the near term. The next major hurdle for the bulls might be $2.880. Another Decline? If XRP fails to clear the $2.360 resistance zone, it could start another decline. Initial support on the downside is near the $2.150 level. The next major support is near the $2.050 level. If there is a downside break and a close below the $2.050 level, the price might continue to decline toward the $1.880 support. The next major support sits near the $1.750 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.1500 and $2.0500. Major Resistance Levels – $2.3500 and $2.4750.
Crypto analyst Dark Defender revealed that a weekly bull flag has appeared on the XRP price chart. The analyst further explained why XRP could hit double digits in this market cycle following this development. Weekly Bull Flag Appears On XRP Price Chart In an X post, Dark Defender stated that a weekly bull flag has now appeared on the weekly XRP price chart. He noted that this bull flag had earlier appeared on the daily chart when XRP was at $0.70, as the crypto targetted the $1.88 price level, which it eventually rallied to. With this bull flag on the weekly, the crypto analyst predicted that XRP could rally to double digits. Related Reading: Bitcoin Price Bull Run: Analyst Reveals Why BTC Will Hit Its Top A Month From Now Below $150,000 His accompanying chart showed that the XRP price could rally to as high as $11 as it breaks out from this bull flag. XRP is expected to hit this price target in early 2025, between January and March. Dark Defender cautioned market participants that there will surely be some sideways price movement. However, the crypto analyst expects the ultimate targets to stay the same. Based on Dark Defender’s previous analysis, the $11 target is unlikely to be the market top for the XRP price, as the crypto analyst predicted that the crypto could rally as high as $18 in this bull run. For now, XRP continues to trade sideways, just as he warned that the crypto would do. The crypto had recorded a parabolic rally last month, recording a price gain of 281%. However, the XRP price has cooled off this month as it consolidates for its next leg up. Dark Defender previously highlighted $2.13 and $2.27 as key support levels to watch out for as XRP ranges. Meanwhile, the analyst mentioned $3.9 and $5.5 as the next targets XRP could reach on its next leg up. An “Optimistic” Target For XRP In an X post, crypto analyst Ali Martinez stated that $48.12 is an “optimistic” target for the XRP price. Meanwhile, he highlighted the $8.40 price level as a conservative target for XRP. These predictions came as the crypto analyst remarked that the crypto looks undervalued after breaking out of a massive multi-year symmetrical triangle, which he highlighted on the chart. Related Reading: Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next Meanwhile, in another X post, he revealed that the XRP price has formed three consecutive bull pennants on its 4-hour chart. Based on this, Martinez stated that market participants should hope for a retest of $2.25 so they can buy the dip, with XRP targeting $4.40 on its next leg up. A rally to $4.40 will mark a new all-time high (ATH) for XRP. At the time of writing, the XRP price is trading at around $2.18, down over 11% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The XRP price action has played out notable volatility in the past eight or so weeks, with intense trading activity not seen in over six years. Following the U.S. presidential election on November 5, 2024, where Donald Trump secured victory, XRP’s value surged over 400%, reaching a peak of $2.90 on crypto exchange Binance on December 3. However, the XRP price has experienced a downturn in the past week. Interestingly, this XRP price correction seems to be playing out an ABC correction path, with technical analysis suggesting a more downturn before the next leg up. XRP Price Exhibiting ABC Correction The XRP price correction since reaching the $2.9 mark has been highlighted by an ABC pattern that is almost nearing its end. Particularly, this pattern constitutes two downtrend waves A and C and a minor uptrend wave B in between. Related Reading: Bitcoin Price Bull Run: Analyst Reveals Why BTC Will Hit Its Top A Month From Now Below $150,000 According to the price chart below, which is of the XRP/US Dollar pair on the 4-hour candlestick timeframe, the first downtred wave A kicked off after the XRP price was rejected at resistance around $2.9 on December 3 up until it bottomed out around $2.16 on December 5, representing a 25% decline in two days. From there, it went on a minor uptrend wave B, which indicated that the bulls were still in action. Wave B culminated with a lower high at $2.65 on December 9, which translates to another 22% increase in four days. Since reaching this lower high, the XRP price has kicked off another correction path in the past 24 hours, giving rise to the notion of corrective wave C now in action. If a similar trend were to play out like that of wave A, we could see the XRP price correcting by another 25% from $2.65, which would put the bottom just below $2 before another bounce up. This is very logical, considering that the $2 price level serves as a psychological threshold that the bulls would be preventing a break below. Bullish Impulse Suggests Next Move To $2.8 And Beyond At the time of writing, the XRP price is trading at $2.19 and is down by almost 10% in the past 24 hours. The ongoing wave C, which is the final leg of the ABC corrective pattern, could continue on a downtrend until it reaches resistance at $2. Technical indicators support this outlook, especially the Relative Strength Index (RSI). Related Reading: PEPE Price Hits $0.000027 ATH, On-Chain Data Says These Are The People Driving It The RSI has slipped below its overbought zone for the first time since November 10. This signals a cooling off of the bullish momentum that propelled XRP to its recent highs, paving the way for the corrective wave C to run its course. Despite this pullback, market dynamics suggest that a bounce from the $2 level is a strong possibility. Such a rebound could mark the beginning of a renewed bullish wave and drive the XRP price toward $2.80 and beyond. This scenario aligns with the broader outlook for XRP, which is still rolling in investor optimism regarding regulatory clarity after a new US presidential administration comes into power in January 2025. Featured image created with Dall.E, chart from Tradingview.com
XRP price failed to extend gains above the $2.40 zone. The price is down over 10% and might even decline toward the $2.00 support zone. XRP price started a downside correction from the $2.50 resistance zone. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2.26 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.32 resistance. XRP Price Dips Again XRP price failed to start a fresh increase above the $2.50 resistance zone. It started a fresh decline below the $2.35 level like Bitcoin and Ethereum. There was a move below the $2.30 and $2.25 levels. The price even dived below the $2.20 support. A low was formed at $1.989 and the price is now correcting some losses. There was a move above the $2.20 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $2.64 swing high to the $1.98 low. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.20 level. The first major resistance is near the $2.250 level. There is also a connecting bearish trend line forming with resistance at $2.26 on the hourly chart of the XRP/USD pair. The next resistance is at $2.30 or the 50% Fib retracement level of the downward move from the $2.64 swing high to the $1.98 low. A clear move above the $2.30 resistance might send the price toward the $2.350 resistance. Any more gains might send the price toward the $2.40 resistance or even $2.420 in the near term. The next major hurdle for the bulls might be $2.550. More Losses? If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.00 level. If there is a downside break and a close below the $2.00 level, the price might continue to decline toward the $1.880 support. The next major support sits near the $1.750 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.0500 and $2.0000. Major Resistance Levels – $2.2500 and $2.3000.
An analyst has explained how XRP could eventually reach a $4.40 price target based on the bull pennant pattern that has formed in its 4-hour price. XRP Has Just Shown Its Third Straight Bull Pennant Pattern In a new post on X, analyst Ali Martinez has discussed the bull pennant patterns that have formed for XRP recently. The “bull pennant” refers to a formation from technical analysis (TA) that occurs after an asset shows consolidation inside a triangle following a sharp uptrend. The pattern is made up of two parts: a pole and a ‘pennant.’ The pole corresponds to the initial uptrend in the asset’s price. This is exactly the same kind of structure that precedes the consolidation phase in a “bull flag.” Related Reading: Bitcoin Flash Crash Causes $710 Million In Crypto Long Liquidations Where a bull pennant diverges from a bull flag is in terms of how the consolidation of the asset occurs. In a flag, the price moves between two parallel lines, while in a pennant, it’s between two converging trendlines. The upper line of the pennant is likely to be a source of resistance, meaning tops can probably occur at it. Similarly, the lower line may support the price. A break out of either of these levels can suggest a continuation of the trend in that direction; escapes above the pennant are bullish, while falls under it can lead to a bearish outcome. Like the bull pennant, a ‘bear’ pennant can also form in an asset’s price. This pattern works very much like the bull pennant, except for the fact that its pole corresponds to a downtrend instead. Now, here is the chart shared by the analyst that shows the bull pennant that XRP is traveling inside right now: As is visible above, XRP attempted a retest of the pennant upper level yesterday, but the asset appears to have found rejection as its price has gone down since then. It’s possible that the coin may find support at the lower level next, which is located at $2.25. The cryptocurrency is slowly moving towards the apex of the pattern, meaning a break in either direction might be on the cards in the near future. As for which of the two directions is more likely, perhaps history may hold the answer. Related Reading: Bitcoin Price At Crossroads: Will It Stabilize and Surge Again? From the chart, it’s apparent that this isn’t the first bull pennant that the asset has shown during the past month. Both of the previous two instances ended in the price finding a bullish breakout. Thus, XRP may obtain a similar outcome this time as well. As for how far the break might take the asset, Ali has mentioned a target of $4.40. This is based on the fact that pennant breakouts are generally of the same length as the pole. “We should all be praying for a retest of $2.25 to buy the dip and target $4.40!” says the analyst. XRP Price Following its drawdown during the past day, XRP has plunged to the $2.39 level. Featured image from Dall-E, charts from TradingView.com
XRP’s upward momentum has taken a hit after the price failed to reclaim its previous high of $2.9, sparking a fresh decline that has resulted in the price dropping toward previous support levels. The rejection has raised questions about the strength of the bulls and whether they can regain control to steer the price back to higher levels. Bearish Build-Up On The 4-Hour Timeframe With bearish pressure mounting, the focus now shifts to key support zones and whether the bulls can hold firm against the downside movement, preventing XRP from experiencing a much deeper correction. Related Reading: XRP To Maintain Price Rally As Whales Reload Amidst Price Dip- Details On the 4-hour chart, XRP exhibits negative sentiment, attempting to drop below the 100-day Simple Moving Average (SMA) as it trends downward toward the $1.9 support level. Specifically, a continued descent to this support suggests that selling pressure is intensifying, and if the support fails to hold, the asset could experience more declines. Also, an analysis of the 4-hour chart reveals that the Composite Trend Oscillator’s trend line has fallen below the SMA line, signaling a potential shift in momentum as it edges closer to the zero line. This indicates a struggle to sustain upward movements and points to moderate bearish pressure, leading to a cautious market sentiment. If the signal line continues to drop, it may trigger heightened selling activity. Price Set Up For XRP On The 1-Day Timeframe On the daily chart, the crypto giant displays significant downward movement, highlighted by a bearish candlestick after a failed recovery attempt to surge toward its previous high of $2.9. The inability to sustain an uptrend implies a lack of buyer confidence and a prevailing pessimistic sentiment in the market. As XRP aims at the $1.9 support level, the pressure from sellers could intensify, raising concerns about the possibility of a breakdown. Finally, the 1-day Composite Trend Oscillator signals growing bearish momentum, with the indicator’s signal line dropping below the SMA after lingering in the overbought zone. This development suggests a possible shift in market dynamics as the overbought conditions may give way to increased selling pressure. A crossover of the signal line below the SMA is often interpreted as a bearish signal, indicating that the upside momentum could be weakening. Related Reading: XRP Price Steadies Above Support: Preparing for the Next Move? Conclusively, as XRP faces renewed negative pressure, key support levels become crucial in determining its next move. Meanwhile, the first level to watch is $1.9, which could act as an initial buffer against further declines. A sustained break below this level might open the door for a deeper drop toward $1.7, a region of significant historical activity. If bearish momentum persists, the $1.3 mark could serve as the last line of defense before a broader selloff ensues. Featured image from Adobe Stock, chart from Tradingview.com
XRP price remained in a positive zone above the $2.40 zone. The price is consolidating and might aim for a fresh increase above the $2.60 level. XRP price started a downside correction from the $2.65 resistance zone. The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2.45 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.550 resistance. XRP Price Holds Key Support XRP price started another increase above the $2.40 resistance zone like Bitcoin and Ethereum. There was a move above the $2.50 and $2.55 levels. However, the bears were active near $2.65. A high was formed at $2.64 and the price started a downside correction. There was a move below the $2.55 and $5.20 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $2.165 swing low to the $2.645 high. The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.45 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $2.165 swing low to the $2.645 high. On the upside, the price might face resistance near the $2.50 level. The first major resistance is near the $2.550 level. The next resistance is at $2.650. A clear move above the $2.650 resistance might send the price toward the $2.750 resistance. Any more gains might send the price toward the $2.850 resistance or even $2.920 in the near term. The next major hurdle for the bulls might be $3.00. More Losses? If XRP fails to clear the $2.550 resistance zone, it could start another decline. Initial support on the downside is near the $2.450 level. The next major support is near the $2.40 level. If there is a downside break and a close below the $2.40 level, the price might continue to decline toward the $2.280 support. The next major support sits near the $2.150 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.4000 and $2.3500. Major Resistance Levels – $2.5000 and $2.6500.
In the last week, the price of XRP increased by 35% as the general crypto market maintains a stellar performance stretching over the last two months. Interestingly, recent developments in the XRP market indicate a sustained bullish outlook for the prominent altcoin. Related Reading: Ripple Labs Future Under Trump: CEO Brad Garlinghouse Outlines Vision For 2025 Whales Accumulate $288 Million XRP As Price Slides To $2.22 In an X post on December 7, renowned crypto expert Ali Martinez shared that XRP whales had embarked on an accumulation spree amidst a recent price dip. Notably, XRP has been one of the best-performing cryptocurrencies in Q4 2024 rising by over 350% since the US elections. However, the altcoin recorded a significant 23% decline in the past week, falling from $2.90 to $2.22 between December 3-December 6. During this period, Martinez noted that whales i.e. wallets holding between 1 million – 10 million XRP, acquired over 120 million XRP, valued at $288 million, as they increased their market holdings to $4.7 billion. Generally, such large purchases by market whales are indicative of confidence in an asset’s long-term profitability and are common bullish signals. Rightly so, XRP has experienced an 18% price gain rising to $2.60 in the 48 hours following this bullish whale activity. In regards to how high XRP can go, Ali Martinez has set a projected target of $4.34 which may be a good price zone for traders to take profit. However, any unexpected price decline could force the altcoin to return to around $2.23 which Martinez describes as a “key area of support”. Related Reading: XRP Price Steadies Above Support: Preparing for the Next Move? XRPL Active On-Chain Addresses Surpass 100,000 In other news, the number of on-chain active addresses on the XRP Ledger (XRPL) has recently recorded a significant increase. According to CryptoQuant analyst Wenry, exchange transfers dominated the transaction volume on the XRPL up until Q3 2024. However, on-chain XRP transactions have now overtaken exchange inflows as the number of active addresses rose rapidly in recent months reaching a yearly high of 100,000 on December 2. This development can be attributed to several factors including improvement on XRPL’s DeFi infrastructure which has created a better working environment that attracts top decentralized protocols similar to Uniswap, Maker, etc. In addition, there has been significant progress in the development of layer 2 solutions for the XRPL to improve scalability, interoperability, and functionality. Notable projects on this front include The Root Network, XRPL Ethereum Virtual Machin,e and XRPL Hooks. At the time of writing, XRP trades at $2.57 after a 3.94% gain in the past day. Meanwhile, the token’s daily trading volume is down by 13.70% and valued at $12.03 billion. The altcoin now ranks as the third largest cryptocurrency with a market cap of $147.98 billion. Featured image from Bloomberg, chart from Tradingview
XRP has seen a sharp 25% pullback from its recent local high of $2.90, leaving investors questioning its next move. Despite the correction, many analysts remain optimistic about XRP’s potential to regain momentum, while others predict a deeper retrace before any significant rally. The market appears divided, with bulls eyeing a potential breakout and skeptics bracing for a quiet sell-off. Related Reading: Dogecoin Still In Consolidation – Analyst Expects $0,63 If We Get A Breakout Crypto analyst Harry weighed in on the discussion, sharing a detailed technical analysis on X. He highlighted that XRP could target a $4 price once it completes a deeper retracement. Harry’s analysis suggests that while bullish sentiment remains valid, the path forward might require additional consolidation or even a short-term dip to reset market conditions. This divergence of opinions underscores the uncertainty surrounding XRP’s price action. Will the retrace provide a launchpad for the next rally, or will it pave the way for prolonged bearish pressure? As XRP hovers near key levels, the coming days will determine whether bulls or bears gain control. For now, XRP holders and traders must watch these movements closely, as the token’s future hinges on breaking this current stalemate. Price Action Signals Storm Before The Run XRP has recently faced a significant retrace, and many analysts believe further correction or consolidation could be on the horizon before a bullish continuation occurs. After reaching high levels, the token pauses, with some experts forecasting a stabilization period. However, the bullish camp remains hopeful, anticipating new highs in the coming months as buy-side pressure builds. Top analyst Harry shared his insights on X, pointing out that XRP has yet to retest the critical $1.96 breakout level. Currently, the price is hovering between $1.96 and the 2017 all-time high of $2.77. According to Harry’s technical analysis, this positioning indicates growing bullish momentum. He further suggests that if XRP’s current flag formation breaks to the upside, the token could be poised for a powerful rally toward new highs. Related Reading: SUI About To Break ATH Again – Can Bulls Target $4.20 This Week? This analysis follows weeks of speculation surrounding XRP’s price trajectory, especially in the wake of Bitcoin’s volatile movements. BTC has fluctuated around the $100K psychological level, repeatedly breaking and losing it. These conditions have added an extra layer of uncertainty to the market, leaving traders uncertain of what to expect next. XRP Showing Indecision XRP is trading at $2.40, marking a 14% recovery from its recent local lows of $2.16. Despite this bounce, the token’s price action remains uncertain as market sentiment remains divided. Traders and investors are closely monitoring the next moves, with no definitive signs pointing to either a bullish continuation or the formation of a cycle top. The key levels to watch are $2.25 and $2.50. If XRP manages to hold above the $2.25 support and reclaim the $2.50 level in the near term, it could signal the start of a renewed bullish rally. This scenario would likely attract additional buying pressure, pushing XRP closer to retesting its recent highs. However, the market’s current indecision reflects broader uncertainty, and any failure to reclaim these levels could lead to further consolidation or a potential downside. Related Reading: Cardano Whales Keep Buying – Price Holds Above Crucial Mark As Bitcoin and the broader crypto market experience fluctuating trends, XRP’s next move will be critical in determining its trajectory. For now, the token remains in a delicate position, and traders should exercise caution while keeping an eye on these pivotal price levels. Whether XRP resumes its upward momentum or sees additional correction will largely depend on market conditions in the coming days. Featured image from Dall-E, chart from TradingView
Market participants look to be securing profits, seeing how the XRP price has corrected since its recent parabolic rally. Analyst TheXRPguy has outlined seven reasons why those yet to secure profits should hold on selling their coins, suggesting that more parabolic rallies lie ahead. More XRP Price Rallies Lie Ahead As Analyst List Reasons Not […]
XRP price remained in a range below the $2.50 zone. The price is consolidating above $2.150 and might aim for a fresh increase above the $2.40 level. XRP price started another decline and traded below the $2.40 level. The price is now trading below $2.40 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.38 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.40 resistance. XRP Price Consolidates above Support XRP price started another decline after it failed to surpass the $2.50 resistance zone unlike Bitcoin and Ethereum. There was a move below the $2.40 and $2.30 levels. However, the bulls remained active above the last low and support at $2.15. The price is now moving higher and trading above $2.20. It is testing the 23.6% Fib retracement level of the recent drop from the $2.866 swing high to the $2.166 low. The price is now trading below $2.40 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.35 level. There is also a key bearish trend line forming with resistance at $2.38 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.40 level. The next resistance is at $2.50. It is close to the 50% Fib retracement level of the recent drop from the $2.866 swing high to the $2.166 low. A clear move above the $2.50 resistance might send the price toward the $2.650 resistance. Any more gains might send the price toward the $2.70 resistance or even $2.850 in the near term. The next major hurdle for the bulls might be $3.00. Another Decline? If XRP fails to clear the $2.380 resistance zone, it could start another decline. Initial support on the downside is near the $2.200 level. The next major support is near the $2.150 level. If there is a downside break and a close below the $2.150 level, the price might continue to decline toward the $2.050 support and the trend line. The next major support sits near the $2.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.2000 and $2.1500. Major Resistance Levels – $2.3800 and $2.5000.
Despite its notable gains throughout this year, the Dogecoin price has yet to break above its all-time high in 2021, but analysts continue to remain bullish. Interestingly, recent analyses from crypto analysts have compared the Dogecoin price action to that of the XRP price rally, with the general consensus being new all-time highs for both […]
The XRP price is currently experiencing corrections after a dramatic six-week rally. Notably, the XRP price recently peaked at $2.82, reaching its highest level since January 2018, before retreating in the past 24 hours. This retreat has seen the XRP price decline by about 12% in the past 24 hours as the Bitcoin price broke […]
Following a massive leg-up in the price of XRP, optimism towards the altcoin’s future performance is growing significantly within the community, as evidenced by several bullish predictions from crypto analysts concerning its potential for more upside, possibly to a new all-time high in the ongoing market cycle. Similarities Between XRP’s Current Trend And Past Market […]
The XRP price has witnessed a significant correction after rallying to as high as $2.9 this week. This has raised speculations about whether the recent rally is over, but crypto analysts MadWhale has indicated that XRP still has more room to move to the upside. Analyst Explains Why XRP Price Is Headed For $3.2 In a TradingView post, MadWhale explained why the XRP price is headed for $3.2. The analyst noted XRP’s significant trading volume and the stock’s prolonged underperformance compared to other cryptos. Indeed, XRP experienced a prolonged period of stagnation while other coins experienced significant gains. Related Reading: Bitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally MadWhale stated that this extended period of stagnation has left the stock highly compressed and ready for a potential breakout. The analyst added that fundamental and technical analysis point to a favorable outlook, with the chart indicating strong upward potential. In line with this, he anticipates that the XRP could revisit its current all-time high (ATH) and even higher targets. The XRP price has cooled off and retraced in the last 24 hours, following its parabolic rally in the last couple of weeks. Crypto analyst Dark Defender had predicted that this correction would likely happen. He stated that he expects XRP to range between $2.13 and $2.92 for a few days before it continues its upward trend. Like MadWhale, Dark Defender also offered a bullish outlook for XRP, predicting that the crypto would rally to the mid-target level of $3.9993 next. Such a rally will mark a new ATH for XRP, as its current ATH is $3.8. Meanwhile, in a recent analysis, crypto Egrag Crypto stated that a bounce from $2.19 would lead to higher highs and cause XRP to continue its bullish momentum. Egrag Crypto is confident that the XRP price will rally to double digits in this market cycle. The Road To $3.99 In his most recent X post, Dark Defender provided an update on XRP’s projected rally to $3.99. The analyst noted that the XRP price has continued to move the Fibonacci levels. He reaffirmed that this recent correction was expected. The crypto analyst added that these side moves can last a little bit more. Related Reading: Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30 The crypto analyst also provided insights into key levels to watch out for while the XRP price ranges. He highlighted $2.13 and $2.27 as support levels for XRP and $2.92 and $3.99 as the targets for the crypto. A reclaim of the $2.92 target, which is a Fib level, indicates that the crypto is ready to continue its upward trend. At the time of writing, the XRP price is trading at around $2.30, down over 12% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
XRP price started a downside correction below the $2.50 support. The price is consolidating near $2.20 and might aim for a fresh increase above the $2.45 level. XRP price started another decline and traded below the $2.40 level. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.50 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another increase if it clears the $2.50 resistance. XRP Price Revisits Key Support At $2.20 XRP price made another attempt to clear the $2.70 resistance. However, it failed to surpass $2.70 and corrected some gains unlike Bitcoin and like Ethereum. There was a move below the $2.50 and $2.40 levels. A low was formed at $2.166 and the price is now correcting losses. There was a move above the $2.20 and $2.25 levels. The bulls pushed it back above the 23.6% Fib retracement level of the recent decline from the $2.865 swing high to the $2.166 low. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.40 level. The first major resistance is near the $2.50 level. It is close to the 50% Fib retracement level of the recent decline from the $2.865 swing high to the $2.166 low. There is also a key bearish trend line forming with resistance at $2.50 on the hourly chart of the XRP/USD pair. The next key resistance could be $2.550. A clear move above the $2.550 resistance might send the price toward the $2.650 resistance. Any more gains might send the price toward the $2.70 resistance or even $2.850 in the near term. The next major hurdle for the bulls might be $3.00. More Downsides? If XRP fails to clear the $2.500 resistance zone, it could start another decline. Initial support on the downside is near the $2.250 level. The next major support is near the $2.20 level. If there is a downside break and a close below the $2.20 level, the price might continue to decline toward the $2.050 support and the trend line. The next major support sits near the $2.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.2000 and $2.0500. Major Resistance Levels – $2.4000 and $2.5000.
The XRP price action in the past few weeks has been nothing but phenomenal. Particularly, the XRP price has surged by over 460% from its $0.5 range at the beginning of December to peak at $2.82 within the last 24 hours. This notable surge has brought XRP into the spotlight, with various discussions on social […]
Crypto analyst Jacob Canfield has raised the possibility of the Dogecoin price replicating the recent XRP rally. This came as the analyst highlighted similarities between Dogecoin’s recent price action and XRP’s. Dogecoin Price To Replicate XRP Rally? In an X post, Jacob Canfield suggested that the Dogecoin price could soon replicate the recent XRP rally. […]
The XRP price has been on a roll, with a gain of around 90% in the last seven days, providing a bullish outlook for the crypto. This bullish momentum might just be getting started as XRP is nearing the legendary 4.236 Fibonacci level, suggesting that a rally to $9 is possible. XRP Price Approaches 4.236 […]
XRP, the third-largest cryptocurrency by market capitalization, has recently outperformed the top ten cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). This significant momentum comes as investor sentiment grows in anticipation of clearer regulatory frameworks in the United States, especially following Donald Trump’s election. In addition, Securities and Exchange Commission (SEC) Chairman Gary Gensler recently announced his departure effective January 20, which many believe could pave the way for increased adoption and institutional investment in XRP. This could be achieved through the XRP exchange-traded fund (ETF) market, which is being pursued by asset managers such as Canary Capital, Bitwise, WisdomThree, and 21Shares. With the change in leadership at the agency, the odds of approval continue to rise, especially as the pro-crypto nominee to replace Gensler, Paul Atkins, is shaping up to lead the new era of regulation in the country. Key Fibonacci Resistance Ahead For XRP Over the past thirty days, XRP has experienced a remarkable surge of 400%, culminating in a six-year high of $2.91 reached over the past weekend. This surge has been further supported by a substantial increase in market capitalization, which has risen by $120 billion in the last three weeks, bringing XRP’s total market cap to approximately $140 billion. Related Reading: Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here’s Why Despite these encouraging trends, crypto analyst DarkDefender has emphasized the importance of monitoring specific price levels in the coming days. In a recent social media post on X (formerly Twitter), he detailed critical Fibonacci levels for XRP. The analyst identified $2.92 as a significant Fibonacci resistance level, noting that XRP briefly reached $2.90 before experiencing a “normal corrective phase.” DarkDefender highlighted the necessity of holding certain support levels, particularly $2.13 and $1.88, if XRP cannot break through the $2.92 resistance. The analyst expects that the token could bounce between these levels for a “few days,” but if the token breaks above $2.92, it could target a new mid-range level of $3.99. This would mean a new all-time high for the token above its current record mark of $3.40, in the scenario that the token rises 59% as expected by DarkDefender. Trading Volume Surges Past Bitcoin And Ethereum Adding to the positive outlook, financial analyst Jacob King pointed out a historic milestone for XRP: during the current uptrend, XRP’s trading volume has surpassed the combined volumes of Bitcoin and Ethereum for the first time. Related Reading: Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout Over the past 24 hours, XRP’s trading volume reached an impressive $2.19 billion, significantly higher than Bitcoin’s $1.6 billion and Ethereum’s $531 million, underscoring the heightened interest from investors in the XRP token. At the time of writing, the market’s third largest token trades at $2.50, recording a 7% correction in the 24 hour time frame. Featured image from DALL-E, chart from TradingView.com
Data shows social media users aren’t euphoric towards Bitcoin, XRP, and other top cryptocurrencies despite the market-wide surge, a sign that could be bullish for their prices. Positive Sentiment Vs. Negative Sentiment Ratio Remains Low For Top Coins According to data from the on-chain analytics firm Santiment, sentiment around digital assets has been low recently, even for the coins that have enjoyed historic runs. The indicator of relevance here is the “Positive Sentiment Vs. Negative Sentiment Ratio,” which, as its name suggests, tells us about how the positive and negative comments about a given asset being made by social media users currently compare. This metric sources data from major social media platforms like X, Telegram, Reddit, and 4Chan. It puts these posts/messages/threads containing mentions of the relevant term through a machine-learning model to differentiate between positive and negative ones, and finds the difference in their count. Related Reading: Strong Bitcoin Rise “Expected Within 1-2 Months,” Quant Explains Why When the value of this indicator is positive, it means the posts about a positive sentiment outweigh the ones containing a negative sentiment. On the other hand, being negative implies that a bearish mentality is dominant on social media. Here is a chart showing the recent trend in the Positive Sentiment Vs. Negative Sentiment Ratio for five assets: Bitcoin (BTC), XRP (XRP), Ethereum (ETH), Cardano (ADA), and Stellar (XLM). As displayed in the above graph, the Positive Sentiment Vs. Negative Sentiment Ratio has remained almost neutral for all these cryptocurrencies recently. This suggests the market isn’t leaning one way or the other. The trend is interesting, considering XRP, Cardano, and Stellar have seen massive price surges. Generally, positive comments tend to spike when such rallies occur, like they did for Bitcoin early last month when Donald Trump won the US Presidential Elections. Historically, digital assets have often shown moves opposite to what the crowd expects. This means that a price correction can become probable whenever bullish sentiment grows too big. Related Reading: Dogecoin TD Sell Signal Goes Off, But Here’s Why Parabolic Bull Run Can Still Continue Considering that euphoria hasn’t overtaken the investors of XRP and others despite the price surges, it’s possible that their runs could still have room to continue. The Positive Sentiment Vs. Negative Sentiment Ratio could still be to keep an eye on in the near future, however, as social media sentiment can sometimes flip very quickly, especially if some big news comes out. A spike in the indicator would naturally be a bearish sign for the market. XRP Price At the time of writing, XRP is floating around $2.58, up almost 17% over the past seven days. Featured image from Dall-E, Santiment.net, chart from TradingView.com
XRP price saw a couple of swing moves from the $2.85 resistance. The price is consolidating near $2.50 and might aim for more gains above the $2.65 level. XRP price is struggling to gain pace for a move above the $2.80 resistance zone. The price is now trading above $2.30 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to accelerate if it clears the $2.72 resistance. XRP Price Holds Gains Above $2.30 XRP price made another attempt to clear the $3.00 resistance. However, it failed to surpass $2.85 and corrected some gains unlike Bitcoin and like Ethereum. There was a move below the $2.65 and $2.50 levels. A low was formed at $2.276 and the price is now correcting losses. There was a move above the $2.40 and $2.50 levels. The bulls pushed it back above the 50% Fib retracement level of the recent decline from the $2.848 swing high to the $2.276 low. The price is now trading above $2.30 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2.25 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.620 level. The first major resistance is near the $2.720 level. It is close to the 76.4% Fib retracement level of the recent decline from the $2.848 swing high to the $2.276 low. The next key resistance could be $2.850. A clear move above the $2.850 resistance might send the price toward the $2.950 resistance. Any more gains might send the price toward the $3.00 resistance or even $3.150 in the near term. The next major hurdle for the bulls might be $3.20. Are Dips Limited? If XRP fails to clear the $2.620 resistance zone, it could start another decline. Initial support on the downside is near the $2.50 level. The next major support is near the $2.40 level. If there is a downside break and a close below the $2.40 level, the price might continue to decline toward the $2.30 support and the trend line. The next major support sits near the $2.050 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.5000 and $2.4000. Major Resistance Levels – $2.6200 and $2.7200.
XRP has been on a significant upsurge in the past few weeks. Notably, the XRP price recently surged to $2.81, its highest market value since January 2018, marking a significant milestone in its price trajectory. Interestingly, the XRP price rally has seen it overperforming most cryptocurrencies and overtaking BNB, Solana, and Tether USDT in market […]