Ripple (XRP) is Above $2, Trading Sideways

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 (XRP) is Above $2, Trading Sideways
Ripple (XRP) is Above $2, Trading Sideways

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?

Ripple Technical Analysis - 24-December-2024
Ripple Technical Analysis – 24-December-2024

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.

Please note that the bullish outlook should be invalidated if XRP/USD falls below $2.0.

Latest Posts

Bitcoin Analysis: Technical, Fundamental & News

Discover the latest Bitcoin analysis with our expert insights....

GBPUSD Analysis: Technical, Fundamental & News

Discover the latest GBPUSD analysis with our expert insights....

EURUSD Analysis: Technical, Fundamental & News

Discover the latest EURUSD analysis with our expert insights....

EURUSD began consolidating from 1.017: rose 0.85%

EURUSD began consolidating from 1.017 and rose 0.85%, trading...

Litecoin Gained 7.1%: What’s the Next Target?

Litecoin gained 7.1%, marching slowly toward $100.0. The uptrend...

Gold Exceeded $2665: Now Overbought!

Gold exceeded $2665 resistance. However, robust buying pressure made...

Bullish Symmetrical Triangle Signals NATGAS Breakout

NATGAS trades sideways in a low-momentum market inside the...

Crude Oil Holds at $72.8 After Initial Price Dip

Crude Oil price dipped from $75.24, testing the %50.0...

Gold Stays Below $2665 Ahead of US Economic Data

On Monday, the price of gold remained below $2,665...

US Gasoline Futures Hit $2.07 Amid Oil Surge Amid Oil Surge

Gasoline futures in the US have climbed past $2.03...

NATGAS Dips 14% Amid Low Storage Draws

Natural gas prices in the U.S. fell sharply by...

WTI Crude Slips From $74 as Dollar Strengthens

Crude oil prices for West Texas Intermediate (WTI) dipped...

NATGAS is Hit $4 As the Year Ends

NATGAS hit $4.0, trading in a robust uptrend. The...