As the price of Tether currency (Tether-USDT) continues to stabilize around $1.00, the value of Ripple currency is facing remarkable fluctuations, as data from the @ali_charts account revealed that currency whales (its major investors) sold around 190 million Ripple coins in just 48 hours, which reinforced the pessimistic mood about it and pushed its price down towards a support range criticism.
Ripple is currently trading around the $2.05 level today amid increasing volatility and traders are closely watching the $1.81 to $1.90 range as it repeatedly acts as a protective wall against sliding into 2024.
The reduction in positions of monetary whales reflects a change in conviction of major investors due to macroeconomic developments and the market showing internal weaknesses, as the recent wave of selling coincided with the lack of liquidity in alternative currency markets, but the technical structure of the price movements of the Ripple currency seems to maintain its cohesion despite the pressures, while its recent movements indicate that the price has started to stabilize.
Ripple Price Consolidates as Buyers Return
The Ripple price movement chart shows that it continues to respect the range of its descending channel, which is demarcated at the top by the descending trendline touching the gradually declining price peaks that have been extending since August, which has hampered any recovery attempts. For its part, the bearish orientations remain in place until now, and signs of exhaustion have appeared during the last trading sessions.
Trading candlestick patterns with extended down tails and short tails formed with signs of weakening selling forces, suggesting a decline in seller dominance, while the Relative Strength Index (RSI) reading, which currently stands at 37, continues to rebound from the oversold range in early signs of a price reversal, while price recorded a higher low and momentum indicator reading did not form an upward divergence. Historically, Ripple has always reacted strongly to similar scenarios, especially when combined with a strong position drawdown, such as during the recent whale sell-off.
The price could begin to reverse its downward trajectory and form gradually ascending lows if the $1.81 level holds and traders target the $2.15-$2.20 area as an initial target and then the intermediate barrier at $2.30, especially as a daily close above could prove the currency’s first technical structural improvement in months and support the upward trajectory of recovery towards $2.57 in the first quarter.
Technical signals supporting stability include:
- The tails of the candles extend downward and form small commercial candle patterns.
- RSI movements flatten and the first signs of deviation appear
- Recovery of the 20-day exponential moving average (EMA-20) on shorter time frames
XRP/USD Price Forecast for Q1: Recovery Possible if Liquidity Improves
The best entry strategy is to anticipate the formation of a bullish reversal candle (Hammer, engulfing, Doji with extended wick) touching the range from $1.81 to $1.90, and a decisive close above the $2.06 level can confirm a change in the market trajectory towards recovery.
Smart speculators will place stop losses below $1.81, targeting $2.30, $2.57, and $3.12. If momentum picks up, Ripple could move from defensive trading to an upward trajectory if liquidity improves in December and whales resume accumulation activities, creating new opportunities as IPO phases continue and prepare for the 2026 market.
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Post-Ripple-XRP Price Expectations Amid Falling Confidence and Whales Selling Assets Worth $250 Million, and Here Are the Levels to Watch appeared first on Cryptonews Arabic.
