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

WallStreet Forex Robot 3.0
coinpedia 2024-12-21 02:11:20

XRP Price Prediction For December 21

The post XRP Price Prediction For December 21 appeared first on Coinpedia Fintech News Ripple’s XRP is up by more one percent and is trading at $2.28 level at the time of writing. After retesting levels below $2, the price is now maintaining bullish momentum. Bitcoin and other coins are also down right now, and some traders are taking advantage of the dip by buying more. The price of XRP has been consolidating around the $2 range, and this is where it could stay for a while, which is a good sign for holders. Overall, the market is seeing a lot of liquidations, with $680 million wiped out in the last 12 hours alone. Short-Term Price Range and Potential Movements Currently, XRP is trading between $1.96 and its all-time high of $3.30. The price remains squeezed within this range, and a potential upside movement could still emerge. A short-term bullish scenario could see one or two additional highs as part of a larger wave structure, similar to what is expected in other major cryptocurrencies, such as Bitcoin. Possible Elliott Wave Count and Structure There are two possible Elliott Wave counts on the XRP chart. The first suggests the top may already be in place, with the current price action forming a fourth wave triangle. If this count plays out, a final fifth wave could complete the current bullish cycle. The second wave count proposes that an additional 4-5% upside movement may occur before the cycle concludes. The focus remains on the current structure and its potential implications. Validation and Invalidations: Key Price Levels To keep the triangle scenario alive, XRP must stay above $1.90. If the price breaks below this level, it would invalidate the triangle count, suggesting a more direct ABC correction. This scenario would likely see XRP move lower before any potential recovery. For now, it’s important to remain flexible regarding the exact microstructure of the market.

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.