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๏ปฟAnjali Belgaumkar
๏ปฟAnjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โEnthusiastโ but trust me I'm getting there.
- Dec 26, 2024 06:24 UTC
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XRP Price Prediction For December 26
XRP shows triangle pattern as market awaits post-holiday breakout; key support at $1.94, resistance near $2.59.
XRP faces critical price action with potential upside to $2.59 or downside risks to $1.40; market consolidation continues.
Currently, XRP is trading within a range, and the market is quiet due to the holiday period. There hasn’t been any significant breakout in price yet. The key question now is whether XRP will experience a price surge after the holiday season ends. At the time of writing, XRP is down by more than two percent and is trading at $2.25.
Potential Triangle Pattern Developing
At present, XRP could be forming a triangle pattern, which typically signals a period of consolidation before a breakout. However, it’s important to note that triangles are not always reliable and this pattern doesnโt seem to be fully formed just yet. Itโs essential to be cautious as the pattern could evolve into something different, and a clear breakout may still be some time away.
XRPโs Price Could Go In Two Directions
Upward Breakout Scenario: A breakout to the upside remains possible, but at this stage, the triangle doesn’t seem fully developed. If the correction is to complete, it may need more time, either through a continued D-wave in the triangle or through a downward move.
If the market stays above the recent support level of around $1.94-$1.95, XRP could potentially move higher, targeting the $2.59 level, which would be a significant milestone in the pattern.
- Also Read :
- Crypto Price Today (Dec 26th, 2024): Bitcoin Price Stays Firm at $98k | BGB Leads Gainers!
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Downside Risk: If XRP fails to break higher and instead breaks below the $1.94-$1.95 support, the price could fall to lower support levels. Key levels to watch on the downside include $1.80, $1.63, and $1.53. The $1.40 region is particularly important, as it aligns with a common retracement target for corrective phases.
Conclusion
XRP’s price action is at a critical point. While a breakout could still happen, the triangle pattern is not yet fully complete, and there are several potential corrective scenarios to consider.
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