Price Analysis

Will Ripple (XRP) Manage to Stay Away from Bearish Pressure in the Near-term?

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Ripple has great potential, and it had a great start to the year until the bears overtook the stronger position in the crypto market since July.

The price of XRP coin started on a high note of $0.1960 on December 17. With the bears showing a stronger hold over the coin, Ripple price fell to the extent of 9.09% on the next day at $0.1776 from $0.1955. Then, the price managed to trade upwards reached $0.1981 by 11.61% hike on the same day. After this hike, the currency started to trade downwards and pushed the price down to $0.1841 on December 20. XRP price recovered to the tune of 6.99% on the same day at $0.1968. Though the price of Ripple cryptocurrency fell to $0.1914 on December 22 showing a downward movement of 2.76%. Today, the coin has shown an upward movement of 1.15% at $0.1935.

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Ripple Price Analysis
XRP/USD Chart By TradingView

Ripple Price Prediction

As per the current trend, it seems that XRP manages to sustain its current momentum. It has given a good performance over the past seven days though there has been continual bear pressure. If this trend continues for the short term, then we expect, based on Ripple’s past and future growth prospects, the coin to get back to its winning momentum in the upcoming weeks.

Current investors can continue to hold on to their investments from a long-term perspective. Short term traders can trade with a cautious approach as the crypto market is still highly volatile.

Resistance & Support Levels

R1: $0.196088, R2: $0.201232 and R3: $0.204331

S1: $0.187845, S2: $0.184746 and S3: $0.179602

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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