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XRP Price Prediction For December 20
As we approach the end of the year, cryptocurrency enthusiasts are eager to know what’s in store for Ripple’s XRP. As a result, it’s essential to examine the current market conditions and trends before providing any insights on the price prediction for December 20.
Ripple’s XRP has been trading within a range of approximately $2.20 to $2.70 over the past few days, showing limited movement on the larger time frames. The altcoin has recently experienced a slight pullback, which has led to the invalidation of a previous bullish breakout pattern.
Despite the bearish momentum, it’s essential to understand the support and resistance levels before predicting a price action for December 20. It appears that XRP is currently trading above the immediate short-term support level at $2.30-$2.31. However, if this level breaks, the next support lies around $2.23, with further downside possible towards the $2 level.
It’s crucial to note that a price drop below $1.90 would likely indicate a bearish trend and render the bullish scenario unfeasible for the foreseeable future. On the other hand, holding onto the current support levels could pave the way for an upward surge, potentially reaching the $2.60 mark.
Furthermore, it’s critical to acknowledge that any price movement below $1.90 would likely result in a drastic change of market sentiment and lead us into a bear phase. If XRP holds its position above this crucial level, we might be able to consider a target of $3.
In conclusion, it is essential for investors and traders to carefully examine the current situation before taking any decisive action.
Source: coinpedia.org
