$XRP Price Prediction for December: Key Levels and Market Outlook
Ripple’s XRP has gained over 6% in the past 24 hours, currently trading near $2.60. The price is holding above its 2021 high of $1.96, a critical level recently broken and not yet retested. This sustained position above the key support indicates ongoing bullish momentum.
Wave Structure Analysis
XRP appears to be in the fourth wave of a larger third wave within a bullish cycle. The recent pullback follows a three-wave correction pattern, typically a precursor to the fifth wave. This fifth wave could drive the price into the $5 to $10 range. While a slight upward deviation is possible, this range remains the most realistic target based on current data.
Support and Resistance Levels
Support: The critical support range lies between $1.50 and $1.79. As long as XRP stays above this zone, the bullish outlook remains intact.
Resistance: The key resistance levels to monitor are $2.60, $2.73, and $2.81, where selling pressure may emerge if the upward trend persists.
Price Action and Expectations
XRP is currently undergoing a correction within the broader uptrend, consistent with the fourth wave. Once this wave completes, the price is expected to resume its upward trajectory. However, a break below $2.38 and $2.17 could signal a potential downside move, altering the bullish narrative.
Despite the ongoing correction, strong support near the 2021 high is likely to stabilize the price. While corrections are a normal part of bullish market cycles, there is no indication of a crash. Instead, the market appears to be consolidating before the next significant move.
Conclusion
XRP remains in a bullish structure, with the potential to reach higher price ranges once the current correction concludes. Traders and investors should closely watch the critical support and resistance levels to navigate the ongoing market dynamics effectively.