XRP Latest Situation
By December 20, 2024, let's talk about how XRP is doing based on the data and analysis at hand:
What is the current price?
XRP is now selling for around $2.27, down 6.7% from yesterday's closing price and 10.07% from the day before yesterday. The main reason is that the market situation has improved a bit and the supervision is a bit unclear.
Where is the support and where is the resistance?
Support level:
The key support is around $2 and $2.33. If XRP falls below $2.33, the next important support is $2.27, and then $2.13, which is the same as the end point of the C wave correction in the Elliott wave analysis.
Resistance level:
If you want to go up, you have to pass the $2.9 to $3 level. In the short term, you have to pay attention to the resistance points of $2.7, $2.78 and $2.85.
Technical analysis and what will happen next
Bullish flag breakout:
Analysts say that the bullish flag breakout on the daily chart, as long as XRP is above $2.33, it may rise to $4.9 to $5 in the short to medium term.
Fibonacci level:
After XRP reached the 261.8 Fibonacci extension level, it began to correct. Analysts estimate that there are two potential target prices, one is $2.92, a 27.5% increase, and the other is $3.99, an 80% increase.
Market sentiment:
The current XRP market sentiment is neutral to bullish, and 59% of technical indicators say that the outlook is good. The fear and greed index is 81, indicating that everyone is too greedy. Although the market is good, it may be overestimated.
Trading volume and market value
XRP trading volume has soared, up 53.72%, and the market value is $145 billion, surpassing Tether (USDT). This growth is all due to institutional buying and trading activities.
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