Ripple (XRP) is above the $2.0 psychological level. Bulls must close above the 50.0% Fibonacci level at $2.4 for the uptrend to resume. If this scenario unfolds, XRP/USD could target the 78.6% level at $2.6.
Ripple Technical Analysis – 24-December-2024
As of this writing, the cryptocurrency pair trades at approximately $2.2, stabilizing above the 23.6% Fibonacci retracement. The technical indicators hint at a bullish trend while the prices are below the 75-period simple moving average.
- Awesome Oscillator histogram is green, below zero, with green bars.
- Stochastic depicts 52 in the description and rising.
- RSI clings to 50, hinting at a low-momentum market.
Overall, the technical indicators suggest while XRP is below the 75-period SMA, the market has a rising potential.
Ripple (XRP) is Above $2: What’s Next?
The immediate resistance is at the 50.0 Fibonacci level, the $2.4 mark. From a technical perspective, the bullish wave from $2.0 could extend to a higher resistance level if XRP’s value exceeds the immediate resistance.
In this scenario, the next bullish target will likely be the 78.6% Fibonacci resistance at $2.6.
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Please note that the bullish outlook should be invalidated if XRP/USD falls below $2.0.