Price Analysis

Ripple: Shall We See a Bullish Opening in 2020?

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  • Ripple has nosedived in mid-December, needs to sustain the higher high pattern for a recovery
  • Before XRP steps into 2k20, a robust market boost is crucial to get investors risk appetite back on track
  • The coin is trading just slightly above the 52-week low; a steady uptrend above 23.60% Fib level is a must
  • The double bottom has been formed even below $0.18; the XRP coin lacks volatility

Bears have dominated the crypto market for not less than half of this year, and the month of December has also not fuelled any hope of bull run as yet. While Ripple seems one of the most affected coins of this bearish grip, Bitcoin and Ethereum are also tolerating a selling pressure.

Ripple Price Prediction

Both the charts show here how the coin is facing hurdles after major price plunges. When December started, Ripple price was trading above $0.22 and in the first week of the month, it traced a dip at $0.2140. With a mild uptrend, XRP coin formed a bearish trendline and went above $0.23. Due to the stiff rejection above, the coin halted the price rise.

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After this, a gradual price fall has ushered the coin significantly down as currently, it is way below the key supports. Here, Ripple value has noted a price decline of 21.66%. The coin stopped the price drop at $0.1819 and started a rebound with a little momentum. Ripple managed to hit a close above the 23.60% Fib level at $0.1960 within the last couple of days; however, it has corrected down to $0.1842, which is just above the 0% Fib level.

Ripple News
XRP/USD Chart By TradingView

Ripple notes a constant price drop in the first part of this week, and it also formed a double bottom before it stopped the decline. XRP coin tested the price levels above $0.17 two days ago, to initiate the price recovery. Ripple managed to form a higher high at $0.1988 but couldn’t continue the uptrend. Recently, the coin has again pulled back below $0.1841.

XRP News

Well, technicals are not up to the mark at the moment. Bollinger bands are slowly moving towards a volatile spell while MACD is in bearish phase with its MACD line on the downside.

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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