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XRP Price Prediction For December 22
Ripple’s XRP is currently trading at $2.22 and has lost more than six percent of its value over the past few days. As a result, investors are left wondering what could be in store for the cryptocurrency in the near future. In this article, we will provide you with our XRP price prediction for December 22.
The current price action of Ripple’s XRP is quite concerning as it has lost the majority of its gains from the previous seven days. The market is experiencing a correction, which might not be over yet. Analysts are speculating that this may be part of a larger correction following a strong rally earlier in the month.
At this point, there are two possible scenarios for XRP’s future price movement. Firstly, it could be consolidating within a defined range, which would signal a pause before resuming its upward trajectory. If this happens, we expect XRP to eventually break higher and test resistance levels between $2.30 and $2.53.
On the other hand, if XRP drops below the critical support level of $1.96, it may trigger further selling pressure and potentially push the price lower into a range between $1.39 and $1.80. In this scenario, we would advise traders to exercise caution as the cryptocurrency could be entering a deeper correction.
In conclusion, our XRP price prediction for December 22 is largely dependent on how the coin reacts to the immediate resistance zone of $2.30 and $2.53, as well as the critical support level of $1.96. We will continue to monitor market conditions closely and provide any necessary updates.
Source: coinpedia.org
