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XRP Price Prediction for December 14
According to Denys Serhiichuk, a seasoned trader with over 5 years of experience in the market, the current price action of XRP is unlikely to lead to any significant gains. In his latest analysis, he emphasizes that the $2.35 area and below are more likely scenarios.
As we can see on the chart, the price of XRP has been stuck within a wide channel for some time now. This suggests that neither bulls nor bears are ready to take control of the market, resulting in a neutral environment with no clear direction.
In his analysis, Denys highlights that the volume has declined significantly, which is further reinforcing this notion. The lack of significant buying or selling pressure can be seen as an indication that XRP will not see any substantial movement for now.
Looking at the bigger picture, it appears that we are stuck within a wide channel. While we don’t know where we’ll end up in the long run, our focus should remain on the weekly bar closure and the $2.1743 level. If this is broken from below, we may see bulls regain their strength.
In conclusion, Denys suggests that the most likely scenario for XRP would be a continued sideways movement within the established channel.
Source: u.today
