XRP price prediction for December 16
Ripple's XRP is currently trading slightly above the $2.40 level and has entered the green zone. XRP is maintaining a position above the upper border of the trend channel and has recently increased volatility in the crypto market, which creates hope for further movement. up.
The price experienced a shallow retracement from the top of the area, and this may be forming a sideways triangle pattern, indicating market volatility. The pattern is narrowing, and a different decision is expected soon.
Key support and resistance levels:
Support Levels: The key support is around $2.28 (the inner low of the triangle). A break below could lead to a test of the lower support zone between $2 and $2.23.
Resistance Levels: The main resistance is at $2.53. A break above could signal the start of a move towards $2.64 to $2.76.
A cruel look:
If the price breaks above $2.53, this indicates the beginning of a C-wave, which may lead to further gains. Target resistance areas are around $2.64 and $2.76. But a drop below $2.28 could signal a deeper correction.
Loaded state:
A break below the red line at $2.28 would invalidate the bullish triangle flash scenario. In that event, XRP may revisit the lower support levels between $2 and $2.23.
An analyst weighs in.
According to Crypto World analyst Josh, XRP had a major breakout from the flag pattern, and is now retesting previous resistance that has turned into support. If XRP holds above $2.37, a bullish flag pattern will target the price around $3.79, which could lead to a 50-60% upside. This target will only be rejected if the price breaks below $2.37, preferably below $2.28.
