Ripple Price Analysis Dec 18: XRP Could Accelerate Higher To $0.3800


Ripple Price Analysis
Chart Source by TradingView, Binance

Ripple Price Analysis Dec 18: XRP Could Accelerate Higher To $0.3800

Ripple price bounced back recently and broke the $0.3210 resistance against the US Dollar. XRP/USD could continue to move higher towards $0.3750 and $0.3800 in the near term.

Key Takeaways:

  • Ripple price broke many barriers and traded above the $0.2980 and $0.3210 resistances.
  • Buyers pushed the price above two key bearish trend lines at $0.2890 and $0.2900 on the 2-hours chart.
  • XRP is currently trading with a lot of strength and it could accelerate towards $0.3750 or $0.3800.

Ripple Price Analysis

After a slow and steady drop, ripple price found support near the $0.2800 zone against the US Dollar. Later, XRP/USD recovered and formed a support base above the $0.2850 level.

The 2-hour chart indicates that the price started a solid upward move and broke many hurdles, starting with $0.2980 and the 100 simple moving average (2-hours). It cleared the path for more gains and the price rallied above the $0.3040 resistance.

Ripple Price Analysis
Chart Source by TradingView, Binance

More importantly, there was a break above two key bearish trend lines at $0.2890 and $0.2900 on the same chart. The rally was positive as there was a break and close above the $0.3205-0.3210 resistance zone.

A high was formed at $0.3418 and the price later corrected below the 23.6% Fib retracement level of the recent rally from the $0.2846 low to $0.3418 high. However, the previous resistance near the $0.3210 level acted as support and prevented further declines.

The price is currently following an ascending channel with support at $0.3250. If there is a downside break below the channel support, the price may even break the $0.3210 support.

The next support is near the $0.3130 level and the 50% Fib retracement level of the recent rally from the $0.2846 low to $0.3418 high. On the upside, initial resistance is seen near $0.3350, above which the price is likely to surpass the $0.3418 high and $0.3550.

The current price action is positive above $0.3130 for ripple. If XRP continues to gain strength, there are high chances of it testing the $0.3750 or $0.3800 resistance levels in the near term.

Summary
Ripple Price Analysis Dec 18: XRP Could Accelerate Higher To $0.3800
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Ripple Price Analysis Dec 18: XRP Could Accelerate Higher To $0.3800
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Ripple price bounced back recently and broke the $0.3210 resistance against the US Dollar. XRP/USD could continue to move higher towards $0.3750 and $0.3
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Latika Mehrotra

Passionate about technology and science. Pursuing Doctorate in the field of Data Mining, Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities. Reach out to her [email protected]

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Latika Mehrotra 71 Articles

Passionate about technology and science. Pursuing Doctorate in the field of Data Mining, Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities. Reach out to her [email protected]

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