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December 17) and XRP price is all set to possibly explode. Analysts are saying that XRP is currently in the later stages of a cycle wave three on the daily chart and this wave may still extend a bit higher, potentially reaching new all-time highs.While we haven’t yet seen a clear end to wave three, there’s a possibility it could continue moving upward before we see a correction in wave four. A possible target for the final move of this cycle could be between $5 and $9.81.
At the time of writing, XRP is trading below $2.50 level and is up by more than two percent in the last 24 hours.Key Price Levels and Support Zones
At present, XRP is trading between the 2021 high and the all-time high. This zone is critical for understanding potential price action. If XRP continues to hold above this range, there’s a good chance XRP could break through the all-time high, though it’s not guaranteed.Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
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Anjali Belgaumkar
Dec 17, 2024 02:23 UTC
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XRP Price Prediction For December 17
XRP Price Prediction For December 17
Story Highlights
XRP's price surge may continue as it approaches new all-time highs, with a target range of $5-$9.81. Watch key support levels!
XRP's breakout above the 2021 high suggests bullish momentum. A dip below $2.33 could trigger a pullback to lower support zones.
Ripple’s RLUSD is all set to launch today (December 17) and XRP price is all set to possibly explode. Analysts are saying that XRP is currently in the later stages of a cycle wave three on the daily chart and this wave may still extend a bit higher, potentially reaching new all-time highs.
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While we haven’t yet seen a clear end to wave three, there’s a possibility it could continue moving upward before we see a correction in wave four. A possible target for the final move of this cycle could be between $5 and $9.81.
At the time of writing, XRP is trading below $2.50 level and is up by more than two percent in the last 24 hours.
Key Price Levels and Support Zones
At present, XRP is trading between the 2021 high and the all-time high. This zone is critical for understanding potential price action. If XRP continues to hold above this range, there’s a good chance XRP could break through the all-time high, though it’s not guaranteed.
Also Read : XRP Price to Hit New ATH? Traders Eye $3.55 Post SEC Verdict
Micro Patterns and Short-Term Movement
Looking at the microstructure, there was a three-wave move down from the swing high formed on December 3rd, followed by a three-wave move up (wave B). Subsequently, a corrective wave C formed to the downside, bringing XRP to retest the 2021 high, which held as support. This suggests that short-term price action remains bullish.
The breakout from the corrective price channel is a positive sign, though XRP has yet to move away from it in an impulsive fashion. The first target following this breakout is typically the starting point of the channel, which is around the $2.90 level. This target aligns with the typical length of wave C, which often matches that of wave A.