Ripple price now appears to be just 2% away from a major breakout zone that could pave the way for a significant move higher, suggesting positive expectations for XRP price. The price fell 4% in the last 24 hours, but trading volumes almost doubled, a sign that the whales are preparing for the next leg.
Blockchain supply data shows significant accumulation of the coin between the $2.52 and $2.54 levels, highlighting the importance of this area of demand.
If Ripple price manages to break through these levels, it will indicate strong confidence among buyers, which could spur the next rally.
Today’s decline is likely the result of growing uncertainty over the Federal Reserve’s interest rate decision in December, which caused widespread concern in the market. However, with the upcoming announcement of the Ripple Spot ETFs and Ripple’s growing partnerships with institutions, Ripple could be on the verge of a long-awaited breakthrough.
Ripple Price Forecast: $2.35 Level Could Represent the Starting Point of an Upward Journey
Ripple price has fallen sharply over the past 12 hours after failing to breach the $2.50 level, a previous support-turned-resistance level, at least for now.
However, if the downtrend finds strong support between $2.30 and $2.35, previous experience indicates that the price could rebound strongly, perhaps to new levels this time.
This key support area has served as a reliable starting point, and a strong buyer reaction could quickly change the course of trading in the near term. The 4-hour chart shows Ripple’s relative strength index (RSI) falling below its 14-day EMA, indicating increasing selling pressure. However, strong sell signals can also indicate the start of a price trend reversal.
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The post Ripple Currency Price Prediction (Ripple-XRP): Price is only 2% away from a major breakout zone and major moves are expected appeared first on Cryptonews Arabic.
