$XRP Price Analysis for December 28: Uptrend Intact Amid Consolidation
Ripple’s XRP is exhibiting a consolidation phase on the broader time frame, with no significant corrections disrupting its trajectory. The market is currently in a sideways motion, indicative of a potential pause within a larger upward trend. As of now, XRP has dipped over 2% and is trading at $2.17.
Bullish Momentum Remains Strong
Despite the temporary stagnation, the prevailing trend for XRP remains upward. The current price movement appears to be a minor pullback rather than a reversal into bearish territory. Should the bullish momentum persist, XRP could target its previous all-time high around $3.25–$3.30, a region that aligns with critical Fibonacci retracement levels, further strengthening its potential for growth.
Key Support Levels Indicate Market Strength
One of the most noteworthy aspects of XRP’s price action is its ability to hold above its 2021 peak at $1.96. This key support level underpins the market's overall resilience and indicates robust demand at this price point. As long as XRP sustains this level, the outlook remains constructive, paving the way for further consolidation and upward momentum.
Short-Term Patterns and Risk Management
On shorter time frames, XRP is forming a triangle pattern, a setup that could lead to volatility. While triangle formations can break either way, the market’s direction will depend heavily on maintaining the $1.95 support zone. A breach below this level might invalidate the triangle and spark a more significant pullback, with potential support areas emerging near $1.80 and $1.39. Traders should remain vigilant and monitor these crucial levels to manage risk effectively.
