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    Home » XRP » Ripple Price Analysis: XRP Lost Critical Support, Where is the Next Level to Watch?

    Ripple Price Analysis: XRP Lost Critical Support, Where is the Next Level to Watch?

    Author: Duo Nine

    Last Updated Dec 29, 2021 @ 16:43

    XRP is approaching a key support level after losing most of the gains from last week.

    Key Support levels: $0.75

    Key Resistance level: $0.89, $1

    XRP broke below the critical level at $0.89 on Tuesday when most of the crypto market took a downturn, as Bitcoin plunged below $50K. Now, the key level – $0.89 – has immediately turned into key resistance. On the other hand, the next support is lies at $0.75. As long the overall market sentiment remains bearish, XRP is likely to retest this key support level.

    Chart by TradingView

    Technical Indicators

    Trading Volume: This correction has seen a decreasing amount of volume, which indicates a lack of conviction from sellers. Nevertheless, the XRP price has dropped significantly due to a lack of buy pressure.

    RSI: The daily RSI has dropped below the 50 points level, and the momentum is clearly on the bearish side.

    MACD: The daily MACD is about to go through a bearish crossover as long as this short-term downtrend continues. The histogram and moving averages are just a few days away from turning into the negative side.

    Chart by TradingView

    Bias

    The current XRP bias is bearish, and a retest of the critical support is very likely considering the current market conditions.

    Short-Term Prediction for XRP Price

    XRP has failed to maintain its price from the most recent rally and erased weeks of gains. XRP was badly affected by the overall sentiment, which places it on a clear path back to the next critical support level at $0.75.

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Ripple (XRP) Price
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    About The Author

    Duo Nine
    More posts by this author

    Duo Nine is a seasoned cryptocurrency technical analyst with over five years of experience in price action trading. After buying his first Bitcoin in 2014, Duo never left the blockchain ecosystem. You will find him posting charts most of the time and hanging out on his Discord crypto community. Contact: Twitter

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