Price Analysis

Ripple Price Analysis – December 14, 2019: Time to Go Long for XRP

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Ripple’s prices against the USD are right at the weekly critical support, and Bulls are defending this position strongly. There is a triple bottom formation at the daily charts, and it may be a good time to go long from here for the long-term investment.

XRP Price Prediction:

A quick glance through the weekly XRP chart, Ripple prices against the USD is hovering over the weekly Critical support at $0.217 denoted by the yellow dotted line. It is very important to hold this support, or else the XRP prices will find itself in the Alice in Wonderland-style down the rabbit hole.

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Ripple Chart
XRP/USD Chart by TradingView

Weekly XRP price are below 9 days, 21 days, and 49 days SMA (Simple Moving Average), denoted by the blue line, white line, and green line, respectively, in the below-given chart. Ripple prices fell from the support at $0.303, and currently, this support turn into formidable resistance, and XRP tried to break this resistance around Oct 2019 but was unsuccessful. This resistance at $0.303 also coincides with the 49 days SMA, Bulls needs volume to push it above this and need to do successful S/R (Support/Resistance) flip.

On the positive side, we may see a completely new trend from here for the Ripple and it is a good position to start adding XRP to Crypto’s Blue Chip portfolio.

Ripple Weekly Chart

Ripple Price Today:

Ripple price, Today got rejected by the 23.6% Fib level and currently trading below 9 days, 21 days, and 49 days SMA, as shown in the below-given chart. Since prices are supported by the weekly critical support here, XRP price may bounce from here towards $0.25 to $0.30 mark as these are 49 days SMA (solid green line) and resistance line (white straight line).

XRP Price Chart

RSI is at 36.77 and making Higher Low’s along the trend line, as shown in the below-given chart. If history repeats again then the XRP prices may bounce from here.

XRP Price Prediction

XRP price are below the mean average and near the lower Bollinger Band; these are narrowing down tightly and indicates that the very sharp price volatility is coming soon.

Ripple vs Bitcoin Price Comparison

Conclusion:

  • XRP prices are at weekly critical support, and RSI is making Higher Lows along the trend line.
  • Bollinger Bands are narrowing down tightly, and current prices are at the lower Bollinger Band.
  • With all these indications, XRP price may bounce from here as it did earlier twice and thus, making it a triple Bottom pattern.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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