XRP Price Prediction, Will Weather the Storm or Succumb to the Market

Key Takeaways
  • XRP is looking to bounce back from the $0.600 support, with potential for an upward movement. A break above the $0.630 resistance could trigger bullish momentum.
  • Despite losing gains for the week and month, XRP is holding steady at the $0.57 level.
  • Investors are closely watching the latest US jobs data and eagerly anticipating the upcoming decision from the Federal Reserve.
12-12-2023 By: Lokesh Gupta
XRP Price Prediction, Will Weather the Storm or Succumb to the Market

XRP eyes rebound at $0.600, break past $0.630 signals bullish move.

  • According to Coingabbar Price Analysis, Rebound rally begins with increased momentum, testing the overhead resistance trendline.

  • XRP price faces higher rejection amid market setback, dropping below $0.65.

  • 5% drop and long tail formation indicate a consolidation range.

  • Bullish breakout attempt sees XRP surge from $0.57, testing overhead trendline.

  • Initial bullish momentum cools due to overhead supply, resulting in a long-wicked candle and pullback.

  • Failure to establish anticipated uptrend with a slanted cup and handle pattern.

  • XRP price reverts below $0.65, nearing bottom support of $0.60.

  • Ongoing correction tests patience of XRP holders; a fall below $0.57 may have significant implications.

  • Presently, the daily candle shows XRP trading at $0.62, forming a bearish engulfing candle.

  • Presence of a long wick sustains hope for bullish reversal in the coming days or hours.

  • XRP price recovery falls short of rechallenging $0.70, resulting in an early reversal and lower high formation.

  • Daily candlestick close below $0.6000 could validate bearish outlook, potentially pushing XRP price lower to $0.5500.

KEY LEVELS :

RESISTANCE LEVEL : $0.6370-$0.6500

SUPPORT LEVEL : $0.6000-$0.5800

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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