Ripple Is in a Sideways Move, Consolidates between $0.52 and $0.66

Dec 10, 2020 at 14:21 // News
Coin Idol
Ripple is now fluctuating between $0.52 and $0.66

Ripple has resumed a sideways move after it was resisted at the $0.66 resistance. XRP was repelled twice after the recent rally.

In the first uptrend, on November 23, the coin rallied to $0.75 high but was resisted. The crypto plunged to the previous lows. In the second uptrend on November 30, the coin reached a high of $0.66 and was rejected.  

After a minor retracement, Ripple is now fluctuating between $0.52 and $0.66. Presently, the upward move has been restricted to the current price range. On the upside, if the bulls break the $0.66 high, a retest of the overhead resistance is likely. However, if the bulls fail to resume the upside momentum, the current fluctuation will linger on. In the meantime, XRP is moving up after its recent break down at the $0.53 low.        

Ripple indicator analysis

The crypto is at level 55 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and above the centerline 50. The price bars are above the SMAs which indicates a possible upward move of the coin. The price bars have broken the trend line signaling a change in the trend.


Key Resistance Zones: $0.35, $0.40, $0.45

Key Support Zones: $0.25, $0.20, $0.15

What Is the Next Move for Ripple (XRP)?

After the recent breakdown, Ripple has resumed an upward move. On December 9 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Ripple will rise and reach level 1.618 Fibonacci extension or the high of $0.666.  


Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

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