- XRP’s $2.89 resistance level is critical for confirming a strong bullish breakout.
- Tight Bollinger Bands signal potential for significant price movement in XRP soon.
- Key support levels at $1.47 and $1.90 could stabilize XRP during any pullbacks.
The bull momentum for XRP in December seems to have a chance of doubling the price of XRP, as it stands so far. The coin is currently trading at $2.38, slightly down by 1.71% in the last 24 hours as of publication.
However, technical indicators and recent price movements suggest a possible breakout above critical resistance levels, which could drive XRP higher. As highlighted by STEPH IS CRYPTO, an analyst, the 4-hour Bollinger Bands are particularly noteworthy, as they are extremely tight, historically signaling that significant price movements are on the horizon.
Key Support and Resistance Levels to Watch
XRP has established clear support levels, each of which has previously marked the start of significant price increase. The first key support level lies around $0.31, where XRP began its impressive 132.24% rally to $0.72.
From there, it encountered another consolidation at $0.72 before climbing 53.44% to $1.47. Most recently, XRP bounced from the $1.47 level, surging 102% to $2.89. These support zones indicate a well-defined upward trajectory, with each level serving as a foundation for further gains.
Resistance is currently at $2.89, a critical point where XRP has faced selling pressure in the past. If the price manages to break above this level, the bullish trend could extend significantly. A mid-term resistance at $1.47 was also noted, as it turned into support during the uptrend, confirming the strength of the overall bullish trend.
Analyzing the Current Price Action and Indicators
Currently, XRP is trading below the $2.89 resistance level while its price is at $2.40. A crossing beyond $2.89 would give a re-affirmation of the uptrend process and lead to additional gains.
However, there are also some bearish signals that should be noted in the shorter term. The 1-day RSI stands at 61.60, placing XRP in a neutral zone, while the MACD is trading below the signal line, suggesting that downward pressure could momentarily halt the price’s ascent.