CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Finbold 2024-12-20 13:55:38

Here are XRP key support and resistance levels to watch this weekend

XRP continues to navigate a turbulent market as broader crypto selloffs weigh heavily on major altcoins. Despite the volatility, XRP has managed to consolidate above the $2 mark throughout most of the month, holding firm amidst intense market liquidations. However, the token recently dropped to $1.97 on December 20, before rebounding to regain ground above the critical $2 psychological level . With traders closely monitoring price movements, analysts have identified key support and resistance levels that could shape XRP’s trajectory this weekend. XRP seven-day price chart. Source: Finbold At press time, XRP was trading at $2.15, having dropped by over 9% in the past seven days. However, on the monthly chart, the asset remains in the green, up nearly 92%. XRP key levels to watch Notably, in a recent X post , analyst DarkDefender identified critical levels for XRP in the four-hour timeframe. After testing the $2.72 resistance, XRP retraced to the $2.17 support level, where a potential double-tap appears to be forming. XRP price analysis. Source: DarkDefener/X The $2.17 level remains crucial for short-term stability. Should this support fail, the next level to watch is $2.09, with a deeper correction potentially targeting $1.92. On the upside, immediate resistance is at $2.50, a key level that XRP must break to regain bullish momentum. A decisive breakout above $2.62 would signal the completion of the ongoing correction and open the door for further gains. Meanwhile, on-chain analyst Ali Martinez noted that a rebound to $2.62 could trigger the liquidation of $20.50 million in short positions. Such a move could act as a catalyst for additional upward momentum, potentially driving XRP closer to its next major milestone at $3. $20.50 million in short positions will be liquidated if $XRP rebounds to $2.62! pic.twitter.com/IKMCIolaiV — Ali (@ali_charts) December 20, 2024 Beyond these levels, DarkDefende r had previously identified bullish short-term price targets of $5.85 and $8.76, supported by favorable market conditions and historical price patterns. Featured image via Shutterstock The post Here are XRP key support and resistance levels to watch this weekend appeared first on Finbold .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.