Watch XRP for a Potential Drop to $2

Ripple (XRP) trades sideways. It tested the 78.6% Fibonacci resistance level at $2.68. If bulls close above this level, the next target could be revisiting $2.9.

Please note that the market outlook for XRP/USD remains bullish as long as prices are above the $2.47 %50.0 Fibonacci retracement level.

Watch XRP for a Potential Drop to $2
Watch XRP for a Potential Drop to $2

Ripple (XRP) Technical Analysis – 18-December-2024

The cryptocurrency in discussion has been trading sideways since early December when its prices peaked at $2.90. As of this writing, XRP trades at approximately $2.5, returning from the 78.6% Fibonacci resistance level.

As for the technical indicators, MACD is declining and about to cross below the zero line. In addition, the Stochastic oscillator is dropping, recording 62 in the description.

These developments in the technical indicators suggest while the primary trend is bullish above the median line of the Bollinger Bands, the price could dip toward lower support levels.

Watch XRP for a Potential Drop to $2

Ripple (XRP) Technical Analysis - 18-December-2024
Ripple (XRP) Technical Analysis – 18-December-2024

The immediate support is at $2.41. From a technical perspective, XRP/USD could dip toward a lower support level if the market shifts below this support ($2.41). In this scenario, the downtrend could spread toward $2.14.

Furthermore, if the selling pressure drives the prices below $2.14, the bears’ path to $2.0 could be paved.

The Bullish Scenario

The immediate resistance is at $2.69. Please note that the bearish scenario should be invalidated if bulls pull the prices above this barrier. If this scenario unfolds, XRP could rise toward the December 3 high at $2.90.

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...