Ripple XRP Price Analysis Dec.24: Following 50% Weekly Increase, What’s Coming Up?

Ripple XRP Price Analysis Dec.24: Following 50% Weekly Increase, What’s Coming Up?

So what’s next for Ripple XRP?

• XRP is currently trading 55% above the mentioned support level, and from a closer look (4-hour chart) we can see that for the third time, the $0.27 support level held.
• Another thing worth mentioning is that XRP chart didn’t create a higher high, yet, since the third time it touched the $0.27 support level.
• In the last 12 hours, XRP broke above the $0.37- $0.395 price level, which is the resistance level that was created by the top of the first-mentioned XRP rally on the 18th of May 2017. The next target for XRP could be found around the $0.45-$0.47 resistance level.
• However, we can assume that it wouldn’t be easy for XRP to break-up the $0.47 resistance level on the first try. As of now, XRP is facing the resistance of the 200 EMA on the daily chart.
• XRP could consolidate sideways in order to gain momentum for a second breakout attempt, or it could retest the $0.395 resistance-turned support
  In a more bearish scenario, lower support lies on the mid-channel support level at $0.3139. If XRP breaks below that level,, then XRP will probably try to test the $0.27 support level one more time, but it is too early to determine that.
• Looking at the 4-hour chart: After a nice bullish move, XRP lies in the mid-channel between the $0.45-$0.47 resistance, and the $0.395-$0.37 support level. A breakout to any side will determine the short-term of XRP.
• The 4-hour RSI is around the overbought zone with negative diversions signal starting to develop (higher highs on price while lower highs on RSI).