XRP price continues to melt against Bitcoin.
Although XRP, the third largest cryptocurrency by total market capitalization, reached up to $ 0.77 before Bitcoin's rally and attracted the attention of all cryptocurrency investors, it is now far, far away from that level. XRP, which is expected to go up to $ 1 in a possible altcoin rally, is trading at $ 0.58 at the time of this writing.
XRP Price Continues To Fall
Although the airdrop by the Flare Network certainly excites XRP investors, this excitement seems to be over quickly. While the Bitcoin price climbs up to $ 24,175 against the US dollar and refreshes its record 5-6 times in almost 1 week, XRP is unable to test even the all-time record, even the weekly high.
When looking at XRP / USD technical analysis , it is seen that the price is literally stuck at $ 0.60. Unless the XRP price breaks the $ 0.60 resistance, it floats towards the support points below and the non-existent buying pressure fades away. The price of XRP is likely to decline to the level of 16522 SATS against Bitcoin, which equates to $ 0.45 against the US dollar.
The Fall of XRP Could Be Very Hard
In the technical analysis of the XRP price , it is seen that the main support points are very low at $ 0.28, $ 0.26 and $ 0.24. Resistance points are much closer to XRP price and are located at $ 0.78, $ 0.80 and $ 0.82.
XRP, which has recently been on the rise, fell to its previous point on December 16 due to the $ 0.60 resistance not being overcome. Currently, the XRP price seems to fluctuate between $ 0.54 and $ 0.60. If the XRP price breaks $ 0.60 and closes daily, it can cause $ 0.78 to be seen suddenly.
The Ascension Can Be Fierce
The big green candle, which came with the bullish trend on November 24, tested the 61.8% Fibo point. If there is a break and the continuation of this candle, even the $ 0.78 level is not enough to stop XRP and a rise to the 1.618 Fibo point, or $ 1, can be experienced.
Looking at the 4-hour Ripple price chart, it is seen that the downtrend that emerged on December 15 is still effective. If Bitcoin's rise stops and altcoins take action, XRP will also reverse the trend. With the XRP price reversing the trend, its target is seen at $ 0.80 to $ 1.
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