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XRP Price Prediction For December 21
Ripple’s XRP is currently trading at $2.28, experiencing a small surge of over one percent as the cryptocurrency continues to maintain its bullish momentum. Following a retest below $2, this recent increase in price may be a sign that the market is not giving up on XRP just yet.
In the short-term, it seems likely that the price will continue to consolidate around the $2 range, which could provide some support for holders. As the market experiences significant liquidations, with $680 million wiped out in the last 12 hours alone, this consolidation period may prove beneficial for buyers.
Short-Term Price Range and Potential Movements
As XRP is currently trading between its all-time high of $3.30 and $1.96, it’s possible that we could see one or two additional highs as part of a larger wave structure, similar to what has been observed in other major cryptocurrencies like Bitcoin.
Possible Elliott Wave Count and Structure
There are two potential Elliott Wave counts on the XRP chart. The first suggests that the top may have already been reached, with the current price action forming a fourth-wave triangle. If this count plays out, it could imply that a final fifth wave would complete the current bullish cycle. On the other hand, the second wave count proposes an additional 4-5% upside movement before the cycle concludes.
Focus remains on the ongoing market structure and its implications.
Source: coinpedia.org
