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Ripple Price Prediction: XRP/USD Retests the Lower Levels, but Holds Critical Levels

XRP Price Analysis – December 15

XRP is falling and approaching the lower price range. If the coin holds at the support, the range-bound movement will continue. XRP/BTC is consolidating above Ƀ0.00003000.

XRP/USD Market

Key Levels:
Resistance Levels: $0.24, $0.26, $0.28
Support Levels: $0.22, $0.20, $0.18

XRP/USD – Daily Chart

Ripple is approaching the end of the downward move. On November 25, after the last bearish impulse, XRP/USD pair fell to the low of $0.20. For the past three weeks, the coin has failed to move up to the higher price levels because of lacks of buyers at the upper price level. XRP has been fluctuating between the levels of $0.20 and $0.23. The market has not been able to trade below $0.20 and above $0.23.

Presently, XRP is approaching the lower price levels and may move up at the $0.20 or $0.21 price level. The coin has reached the lower price level; there is the need to have more buyers at the lower price level to push the price upward. However, if the downward move continues and breaks below $0.20, the downtrend will resume. However, XRP is trading below a 40% range of the daily stochastic. This implies that the coin is in a bearish momentum.The major Bitcoin wallets are monitoring the online trading trend .

On the XRP/BTC chart, the coin moves up to the high of Ƀ0.00003800 but the bulls could not sustain the price above that level.

XRP/BTC – Daily Chart

However, the selling pressure resumed and the coin fell to a low of Ƀ0.00003000. The coin also lacks buying power at the upper price level. The Relative Strength Index period 14 level 49 indicates that the coin is in a range-bound movement.

 

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.