XRP Price Prediction: Ripple to witness an explosive move in December

  • Dec 09, 2022, 02:22 UTC
xrp, shuttershock

In Short

  • XRP price hovers above a key trend line that acted as resistance throughout November.

  • A bearish divergence was spotted In November near the current price levels.

  • A breach below $0.375 could issue a downtrend surge toward $0.31.

XRP price may be subject to a decline if market conditions persist. Key levels have been defined to gauge the strength of the anticipated move.

XRP price is getting ready

XRP price is ricocheting back and forth in a turbulent fashion between a consolidative range. During November, the XRP price fell by 32%, but the bulls were able to kick off a last-minute 25% rally. Now, as the price consolidates, there are subtle cues hinting that XRP is due for a fall. 

XRP price currently auctions at $0.39. The volume indicator shows a sparse reading during the recent uptrend move. The Relative Strength Index shows a bearish divergence between the high established on November 15 at $0.399 and the lower high established on November 20 at $0.387. The XRP price is auctioning above the trendline, rejecting both divergent highs earlier in the month.

XRP USDT 8-Hour Chart source: tradingview
XRP/USDT 8-Hour Chart

A second breach of the trendline currently acting as support could catalyze a 20% downtrend rally targeting the November low at $0.3160. On the contrary, a breach above the previous swing high at $0.407 could induce a 12% uptrend move targeting October’s broken support zone near the $0.44 price level.

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Tony Montpeirous
Tony Montpeirous
Tony Monpeirous is a full time crypto trader and chart analyst at Coinmash and FXStreet. His style of trading includes, Elliot Wave, Auction Market Theory, and Classic Price Action techniques. When he is not on the screens, Tony enjoys music, cooking, and learning new skills.