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For a while price action in the Ripple, the market appears to have lost direction recently. However, technical indicators seem to be predicting that the price may fall lower. To that effect, let’s take a closer look, shall we?
Ripple Analysis Statistics Data:
Ripple value now: $0.3867
XRP market cap: $153.45 billion
XRP moving supply: 122.37 million
RippleTotal Supply: 122.37 million
XRP Coinmarketcap ranking: #2
Key price Levels:
Top: $0.3897, $0.3927, $0.3957
Bottom: $0.3867, $0.3837, $0.3807
Ripple Price Prediction Today December 7, 2022: XRP/USD Seems Trapped Under 78.60 Fib Level
Price volatility in the XRP/USD reduced gradually till this point. Consequently, this seems to have kept price under the 78.60 Fibonacci level. Over the past two sessions now, ripple has been trading under the $0.3898 price level, however, at this point, it appears as if selling has become a more dominant action in this market. Consequently, this has caused XRP/USD price to dip a bit lower from its near $0.3898 level. Furthermore, the MACD curves can be seen rising upwards from below the equilibrium level. However, these lines appear to have started moving in a sideways direction. Perhaps this is hinting at the fact that the price upside momentum is weakening. Consequently, Ripple’s price may not break the $0.3898 resistance, instead it is likely that it falls toward $0.3750.
Ripple Price Prediction Today December 7, 2022: XRP/BTC Looks More Bearish
Coming to the XRP/BTC market, things seem to have taken a more bearish tone. Price candles have crossed the MA line to the downside. Likewise, the Moving Average Convergence Divergence indicator has both performed a bearish crossover, and the lines have started moving downwards towards the 0.00 level. Additionally, an attempt to abate the downward price movements failed in the past trading session. This could be seen by the appearance of the green price candlestick before the latest bearish on this chart. Consequently, we can assume that price activities may have decisively resumed a downward path here. Therefore, Ripple versus Bitcoin price may fall towards the 0.00002150 level.
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