XRP Price Analysis – December 19
XRP/USD is trading at $0.57 at the time of writing. The coin is in a sideways move because the bulls failed to break the $0.60 resistance. Presently, XRP is consolidating below the resistance for a possible upward move. The XRP/BTC is in a downward move. There is a possibility of a further downward move to level Ƀ0.000016522.
Resistance Levels: $0.78, $0.80, $0.82
Support Levels: $0.28, $0.26, $0.24
Ripple has resumed an uptrend but the recent rebound on December 16 was interrupted at the $0.60 resistance. XRP is now in a sideways move below the resistance. It is fluctuating between $0.54 and $0.60. Today, XRP is likely to continue fluctuation in the current price range until a breakout is achieved. Ripple may be in a range-bound movement for a couple of days. However, if a breakout occurs at $0.60, Ripple will resume a fresh uptrend. The $0.78 overhead resistance is likely to be retest if the current resistance is breached.
Meanwhile, on November 24 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the coin will rise and reach level 1.618 Fibonacci extension or the equivalent of $1, 1074.
Ripple (XRP) Indicator Analysis
The price is struggling to break above the 21-day SMA. A break above the SMAs will facilitate the upward movement of the coin. XRP is at level 53 of the Relative Strength index period 14. It indicates that the coin is in the uptrend zone above the centerline.
In the case of XRP/BTC, the crypto is in a downtrend. The altcoin corrected upward but was rejected at level Ƀ0.000028000. Meanwhile, on December 15 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the coin will fall and reach level 1.618 Fibonacci extension or the low of Ƀ0.000016522.
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