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XRP Price Prediction For December 17

Published by
Anjali Belgaumkar

Ripple’s RLUSD is all set to launch today (December 17) and XRP price is all set to possibly explode. Analysts are saying that XRP is currently in the later stages of a cycle wave three on the daily chart and this wave may still extend a bit higher, potentially reaching new all-time highs.

While we haven’t yet seen a clear end to wave three, there’s a possibility it could continue moving upward before we see a correction in wave four. A possible target for the final move of this cycle could be between $5 and $9.81.

At the time of writing, XRP is trading below $2.50 level and is up by more than two percent in the last 24 hours.

Key Price Levels and Support Zones

At present, XRP is trading between the 2021 high and the all-time high. This zone is critical for understanding potential price action. If XRP continues to hold above this range, there’s a good chance XRP could break through the all-time high, though it’s not guaranteed.

Micro Patterns and Short-Term Movement

Looking at the microstructure, there was a three-wave move down from the swing high formed on December 3rd, followed by a three-wave move up (wave B). Subsequently, a corrective wave C formed to the downside, bringing XRP to retest the 2021 high, which held as support. This suggests that short-term price action remains bullish.

The breakout from the corrective price channel is a positive sign, though XRP has yet to move away from it in an impulsive fashion. The first target following this breakout is typically the starting point of the channel, which is around the $2.90 level. This target aligns with the typical length of wave C, which often matches that of wave A.

Watch Out for Potential Pullbacks

If the price breaks below the $2.33 level, followed by a drop below $2.28, the price could see a test of lower support regions between $2 and $2.23. From there, XRP might attempt another rally.

FAQs

How much will XRP be worth by the end of 2025?

XRP might reach a high of $3.99 or an average of $3.07.

Could XRP reach new all-time highs in December 2024?

Analysts predict XRP could break its all-time high, but the outcome depends on holding key price levels above $2.50.

Is XRP in a bullish trend right now?

Yes, XRP is showing bullish short-term price action, especially after breaking out of its corrective price channel.

Anjali Belgaumkar

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 “Enthusiast” but trust me I'm getting there.

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