- XRP price prediction suggests the consolidation phase of the token over the daily price chart.
- XRP crypto is trading at 20 EMA but is still below 50, 100, and 200-days Daily Moving Average.
- The pair of XRP/BTC is at 0.00002198 BTC with an intraday drop of 0.50%.
XRP price prediction shows the cryptocurrency’s sharp drop in momentum. The XRP coin’s price bounced back from the last consolidation phase, but the horizontal range continued to hold it back. The price of the XRP coin needs to entice more buyers as it approaches the lower price range of the consolidation phase. The XRP cryptocurrency must hold above $0.30 in order to go toward the top price range of the consolidation phase. The XRP coin’s price has been holding steady between $0.35 and $0.42 while making an effort to stay inside the lower price range.
The market capitalization of XRP has climbed by roughly 3.85% during the last day and is currently assessed to be $0.39. In the meantime, trading volume increased by 40.31% during the intraday trading session. This demonstrates how buyers are banding together to protect the token.
The price of the XRP coin is striving to hold as it moves closer to the lower price range of the consolidation phase. Volume change must increase in favor of bulls and is now above average if the current trend of the XRP cryptocurrency is to be reversed. Meanwhile, XRP crypto is trading at 20 EMA but is still below 50, 100, and 200-days Daily Moving Average.
Will XRP Price Skip Consolidating?
Technical signs suggest that the XRP cryptocurrency is strong sideways. The relative strength index reveals the rate of inclination of the XRP cryptocurrency. The RSI, which is currently at 48, is set to leave neutrality. The MACD indicates a horizontal trend in the price of XRP. The MACD line is waiting for any kind of crossing while it is overlapping the signal line. XRP investors need to keep an eye on the daily price chart for any changes in trend.
Conclusion
XRP price prediction shows the cryptocurrency’s sharp drop in momentum. The XRP coin’s price bounced back from the last consolidation phase, but the horizontal range continued to hold it back. The price of the XRP coin needs to entice more buyers as it approaches the lower price range of the consolidation phase. Volume change must increase in favor of bulls and is now above average if the current trend of the XRP cryptocurrency is to be reversed. The MACD line is waiting for any kind of crossing while it is overlapping the signal line. XRP investors need to keep an eye on the daily price chart for any changes in trend.
Technical Levels
Support Level: $0.35 and $0.30
Resistance Level $0.42 and $0.45
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/13/xrp-price-prediction-will-xrp-crypto-throttle-up-from-0-40-level-of-consolidation/