bullish

<p>Ripple’s price was consolidating for the last few weeks, failing to create a new all-time high. This week was particularly eventful, though, as the asset first jumped above $2.7 before a market-wide crash took it south hard to just under $2.</p>
<p>By <a href="https://crypoptionhub.com/authors/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Edris Derakhshi (TradingRage)</a></p>
<h2 id="the-usdt-paired-chart">The USDT Paired Chart</h2>
<p>On the USDT pair, XRP has been rallying almost vertically for a few weeks. Yet, with the RSI demonstrating a clear overbought signal at the beginning of November, the market has failed to continue its upward trajectory, and it is now consolidating as it cools down.</p>
<p>Nevertheless, the $2 support level remains intact even though it was tested earlier today and could push the price higher toward the $3 level again. On the other hand, if the $2 level is broken down decisively, a deeper correction toward the $1.4 level would be expected.<a href="https://cryptopotato.com/wp-content/uploads/2024/12/XRPUSDT-Daily-Dec-20-2024-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></p>
<h2 id="the-btc-paired-chart">The BTC Paired Chart</h2>
<p>The Bitcoin-paired chart demonstrates a similar price action, as the market has been breaking through several resistance levels in a significant run higher. Yet, the 2,800 SAT resistance zone has rejected the price lower, as the 2,200 SAT support area is now being tested.</p>
<p>Meanwhile, the RSI is showing values above 50%, indicating that the momentum is still bullish, and a bullish continuation is more likely than a reversal at the moment. This scenario would fail if the 2,200 sat support level is broken to the downside, which would pave the way for the market to drop much lower toward the 1,600 SAT zone.<a href="https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-scaled.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="aligncenter size-full wp-image-375583" src="https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-scaled.jpg" alt="" width="2560" height="1372" srcset="https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-300x161.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-1024x549.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-768x411.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-1536x823.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-2048x1097.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/12/XRPBTC-Daily-Dec-20-2024-1-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a></p>
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-xrp-could-slump-to-1-4-if-this-support-level-doesnt-hold/" rel="noopener noreferrer nofollow">Ripple Price Analysis: XRP Could Slump to $1.4 if This Support Level Doesn’t Hold</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: XRP Could Slump to $1.4 if This Support Level Doesn’t Hold

Table of Contents

CryptoPotato_News

Other articles published on Dec 20, 2024

Senator Lummis Proposes Bitcoin Reserve to Tackle US Debt

Mog Coin Took Off—Here’s Why BTFD Coin Could Be the Next Big Thing

FARTCOIN surges as Binance announces futures listing

Hut 8 Surpasses $1 Billion in Bitcoin Holdings with Latest Purchase

Cathie Wood Predicts M&A Surge Following Trump’s Election and FTC Regulatory Changes

The year closes with 16% more crypto VC deals, investment value still 20% lower

Join our free newsletter for daily crypto updates!