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XRP on the Verge to Find New Lows, Yet a 30% Upswing Appears to be Pre-Programmed!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 20, 2021

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The crypto space is experiencing a roller coaster ride nowadays with constant flips from bearish to bullish and vice versa. Bitcoin price revisited the lows below $46000 yet again and dragged the entire market down. However, within a very short span of time the asset recovered from the lows. And this is when the XRP price quickly jumped into action and flipped the downtrend at once. 

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Despite the asset swinging towards the north, the uptrend is not confirmed. A tough fight between the buyers and sellers compel the price to swing within a narrow region. The asset’s uptrend may not be validated until it reaches the minimum resistance levels at 50-day MA around $1.09. Yet the journey towards the next resistance levels a little above may be much possible in the next couple of days. 

Also Read: Key Bottoms of Bitcoin(BTC) Price Has Yet to Come, Points an Analyst, What’s Next?

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  • The price hovering along the strong support levels for more than a week is now attempting to test the upper resistance levels.
  • Without making any huge moves, the XRP price is heading towards the north slowly yet steadily preventing sudden crashes
  • However, the strong resistance levels just above $1.1 appear to be mandatory in order to confirm not only the uptrend but also the beginning of the bull run.
  • The RSI and MACD both point out towards the upcoming trend reversal from bearish to bullish and set up its rally very soon.

Collectively, XRP price is all set to make larger moves with the target set around resistance and hence the asset could range high in order to form new monthly highs soon. The upcoming week is expected to be more fruitful and hence to end the yearly trade, the asset may hover around $1.5 to $1.8 levels soon. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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