- XRP’s price has been under pressure, trading near the $2.00 psychological level and struggling to break above resistance near $2.05 to $2.15
- The cryptocurrency suffered a decline of roughly 2.5% in the last 24 hours and approximately 7% in the last 7 days
- Interestingly, some analysts, such as Dark Defender, predict a future price of $5.85
According to CoinMarketCap, XRP’s price has been under pressure, XRP’s price has been stuck near $1.94 and keeps running into resistance near $2.05 to $2.15. Technical indicators show the token under short-term selling pressure as it remains below several key moving averages, reinforcing the view of consolidation rather than a decisive breakout.
The cryptocurrency suffered a decline of roughly 2.5% in the last 24 hours and approximately 7% in the last 7 days.
Related: XRP Exchange Reserves Drop to 2.6B on Binance as Whales Accumulate at $2.00
Macro Risk Sentiment Still Leans on Large-Cap Altcoins
This price movement matches what’s happening in the wider market. Top coins like Bitcoin and Ethereum also fell in mid-December due to macro uncertainty and weak risk sentiment, which usually pulls the price of altcoins like XRP down as well.
Despite all of this, XRP remains one of the top five largest cryptocurrencies by market cap, having a little bit over $4 billion of trading volume on a daily basis.
XRP Support and Resistance Levels Traders Keep Trading
As it stands now, there are several important price floors for XRP. The main one would likely be the $1.90 support level, which is a key recent floor where the price has stopped falling, and buyers have stepped in.
Next in line is the $1.82, which represents a stronger demand area that could attract dip buyers if $1.90 fails. Lastly, the $1.70 price level is a notable long-term support, and if the price breaks below here, it could signal a much bigger downward move.
On the other hand, resistance levels start with $2.00, as this is both a psychological and technical barrier, representing the initial challenge for a price recovery.
Moving forward, the $2.10 to $2.15 price zone is an important supply zone where sellers previously regained control.
Lastly, the $2.30 is a higher resistance level, and breaking above this price would be a strong signal that the short-term downtrend is over.
XRP Price Analysis
Taking all of this into consideration, if XRP stays above $1.90 and breaks past $2.00, a bounce back toward the $2.10 – $2.15 range could happen, particularly if overall market conditions improve.
Conversely, a decisive break below $1.90 could open the door for a move to $1.82, with further downside risk toward $1.70 if selling accelerates.
XRP’s price is currently hovering near an important floor around $1.92, moving sideways along with the rest of the crypto market. While a drop is possible if this level breaks, there are other strong buying zones below, and continued interest from major institutions helps provide a longer-term foundation. Interestingly, some analysts, such as Dark Defender, predict a future price of $5.85.
Related: Ripple Breaks XRP Isolation with RLUSD Expansion to Ethereum Layer 2s
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