Ripple Price Analysis: Ripple Price Struggles Below Vital Barriers

Ripple Price Analysis

Ripple prices cut right through the $1 psychological level and created a swing low at $08381 as the cryptocurrency markets dived on December 4. While this initial downswing was steep, improvement is currently in development. 

So far, XRP price has climbed to $0.8381, and eyes to keep this going. Investors assume the remittance token to rally at least 30% before it retests the $1 psychological level and heads to get the liquidity resting above the immediate resistance barrier at $1.03.

On the other hand, if Bitcoin price declines to charge and proceeds to fall again, experts can expect Ripple price to follow the action. 

The XRP price could revisit the $0.688 support level in this situation. However, a $0.613 demand barrier breakdown will create a lower low and invalidate the bullish thesis.

Short Term Ripple Price Prediction 

The bulls underwent defeat after defeat this earlier week and could not stop XRP from dropping below multiple support levels. However, the current support at $0.83 and $0.70 may end this downtrend and support bulls for a reversal.

With this said, despite the current bearish state of XRP in the past few days, some traders are still optimistic about a bull happening soon. 

Ripple Current Market Value:

XRP price trends at $0.840706 USD with a 24-hour trading volume of $3,033,282,164 USD. The current CoinMarketCap ranking is #8, with a live market cap of $39,721,063,672 USD. It has a circulating supply of 47,247,295,769 XRP coins and a max. supply of 100,000,000,000 XRP coins.

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