XRP Price: Ripple Coin Analysis, Up to $2.7 or Down to $1.9? – Bittime

Bittime - Ripple's XRP price is currently at a tipping point. Will XRP rise to $2.7 or fall to $1.9? Find the complete analysis in this article.

Ripple (XRP) coin price is back in the spotlight. After several days of decline, the coin price is now at a critical point that can determine the direction of its future movement.

With various factors influencing the market, will XRP succeed in breaking through the resistance level at $2.7 (around Rp. 43,500) or will it fall to the support level at $1.9 (around Rp. 30,600)? This is the complete review.

In the last few days, XRP has experienced a decline in line with the bearish trend that has hit the crypto market as a whole. Despite this, XRP price managed to maintain the important support level of $2.20 (around Rp. 35,500), which was the focus of analysts' attention.

A well-known crypto analyst, Ali Martinez, highlighted that XRP's future price movement is highly dependent on its ability to sustain above this level.

XRP Critical Levels to Watch: $2.20 Support and $2.70 Resistance

harga xrp terkini

Source: Bittime

Since last December 17, the cryptocurrency market has experienced significant selling pressure, especially after Bitcoin fell below its support level. This caused quite a sharp price drop in various cryptocurrencies, including XRP.

From a price of $2,708 (around Rp. 43,600) on December 17,

After reaching this low point, the price of XRP started to rebound and managed to return to the $2 level. Currently,

XRP's price movement around the $2.20 level caught the attention of many analysts, including Ali Martinez, who identified two possible directions for the price to move next.

If XRP can maintain the support level at $2.20, then there is a possibility that the token will enter a consolidation phase. This happened before re-attempting to break through resistance at $2.70 (around IDR 43,500).

If strong bullish momentum occurs and the XRP price manages to penetrate $2.70, it is possible that the XRP price will soar above $3 (around Rp. 48,300) for the first time in recent years.

However, if XRP falls below $2.20, it is likely that the price will fall further towards $1.96 (around Rp. 31,600) before attracting fresh buying interest.

Accumulation by Whales Amid Market Correction

On-chain data from Santiment shows that XRP caught the attention of whales during this downturn. Wallets holding between 1 million and 10 million XRP have accumulated an additional 80 million XRP since December 17.

This indicates a strong belief in the long-term potential of this token among whale addresses. This accumulation could provide a cushion against further declines below $2 and set the stage for the upcoming recovery.

Adding to the positive sentiment, technical analysis of the XRP price using Elliot's impulse waves suggests that the recent drop below $2 may be the end of the second impulse wave, which is a corrective wave. Thus, the third bullish impulse wave is expected to start soon.

Conclusion

With the ever-changing market situation, Ripple's XRP price is at a crossroads. Will XRP succeed in breaking through the resistance level at $2.70 (around Rp. 43,500) or will it fall to the support level at $1.90 (around Rp. 30,600)? Let's just wait.

However, for investors, it is important to continue to monitor these developments and make the right decisions based on existing analysis. Are you ready to face potential future changes in XRP prices?

FAQ About XRP

Can XRP reach $20?

Crypto analyst CrediBULL Crypto has predicted that the price of XRP could reach $20 in this market cycle.

How much is 1 XRP worth now?

Currently, 1 XRP is worth approximately $2.18.

Will XRP skyrocket?

Additionally, analysts predict that XRP could reach a price between $8 and $30 in the coming months or years, driven by rising investor confidence and growing demand for Ripple's blockchain solution.

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Reference

NEWSBTC, XRP Battles Critical $2.20 Support Level — Will It Target $2.70 Or Slip To $1.96?, accessed December 23, 2024.

coinmarketcap, XRP Coinmarketcap, accessed December 23, 2024.

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