XRP Price Analysis – December 24
Today, XRP/USD fell beneath the strong support at $0.190 after slipping by 2.93%.
Resistance levels: $0.210, $0.220, $0.230
Support levels: $0.170, $0.160, $0.150
The daily chart shows XRP sliding beneath the $0.190 support level in today’s trading session. It dipped down to as low as $0.186 but has since bounced back higher as it sits above the support at $0.189. The cryptocurrency is still within a range between $0.202 and $0.183, but the bears may have managed to take control over the market.
However, if Ripple’s XRP manages to climb above the $0.205, the market may fuel a bull run to $0.210, $0.220, $0.230 resistance levels and above. As of now, the bears appeared to be gaining control over a short-term outlook. Therefore, it might be so difficult for the bulls to gain control at the moment. The stochastic RSI is moving towards overbought, showing that bearish signals may step back soon.
Against Bitcoin, XRP bears are gaining control of the market, therefore any attempt to break below the lower boundary of the descending channel could bring the price to the support level of 2400 SAT and below. But at the moment, XRP/BTC hovers around 2619 SAT.
Moreover, should in case the buyers push the price above the 9-day moving average before the upper boundary of the channel, the next level of resistance may be located at 2800 SAT and 2900 SAT respectively. Meanwhile, the RSI (14) signal line trying to move out of the oversold.
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