Ripple Coin: Latest XRP Price Prediction

Bittime - Ripple (XRP) is back in the spotlight of the cryptocurrency market after reaching its annual price peak of $2.90 (around IDR 46,110) on December 3. However, this dynamic price movement is now entering a correction phase with the formation of a descending channel pattern. 

This phase has many investors wondering whether XRP will find stability or continue to decline towards lower support levels.

In this article, we will review the latest technical analysis, map key levels to watch, and provide XRP price predictions for the next few days.

What Happened to Ripple (XRP)?

XRP has become one of the most interesting cryptocurrencies to follow, especially due to its strong price movement patterns in recent weeks. 

After reaching a peak price of $2.90 (around Rp. 46,110), XRP has now experienced a significant correction, with the price dropping to $2 (around Rp. 31,800) on December 9. This correction is in line with the ABC pattern in Elliott Wave theory, which often occurs after a bullish five-wave cycle.

Indicator Relative Strength Index (RSI) indicating weakening bullish momentum after previously being in the overbought zone. However, today's 7% price increase signals that buying interest still exists, although uncertainty remains high.

Read also: Ripple (XRP) Coin: Latest Developments, You Must Know!

XRP Price Analysis

Source: CCN

Support Levels

1. $2.17 (approximately Rp. 34,503)

This level is a key support area that must be maintained to keep bullish momentum alive. If the price stays above this level, there is potential to start a new upward trend.

2. $1.97 (approximately Rp. 31,323)

As the 0.382 Fibonacci retracement level, this is a stronger support zone in the deeper correction phase. A break below this level could trigger further declines.

3. $1.70 (around Rp. 27,030)

This area is a key structural support that serves as a 0.5 Fibonacci retracement. If prices reach this point, the market may experience greater selling pressure before stabilizing.

Resistance Levels

1. $2.36 (approximately Rp. 37,524)

As initial resistance, the price must break this level to show a strong recovery.

2. $2.47 (approximately Rp. 39,273)

The upper limit of the descending triangle pattern, this is the critical area that must be penetrated to change the trend to bullish.

3. $2.90 (around Rp. 46,110)

Key breakout level from previous peak. A break above this price could trigger a new upward wave with higher targets.

4. $3.20–$3.50 (approx. Rp. 50,880–Rp. 55,650)

Fibonacci extension targets for the next potential upward wave if the bullish pattern continues.

Read also: Why does the XRP price keep falling? Here's the explanation!

Latest XRP Price Predictions

Source: CCN

Looking at recent price patterns, XRP is expected to face two possible scenarios:

Bullish Scenario (Positive Scenario)

If XRP manages to stay above $2.17 (around Rp. 34,503) and breaks the resistance of $2.36 (around Rp. 37,524), the potential to continue the uptrend is huge. 

The next price target is $2.90 (approx. Rp. 46,110) with a possibility of reaching $3.20–$3.50 (approx. Rp. 50,880–Rp. 55,650) in the next upward wave.

Bearish Scenario (Negative Scenario)

If XRP fails to maintain support at $2.17 (around Rp. 34,503) and $1.97 (around Rp. 31,323), the possibility of the price dropping to $1.70 (around Rp. 27,030) is quite high. 

A drop to this level could be a big test for investors before the price finds new ground for stabilization.

XRP Technical Factors to Monitor

1. RSI indicator

The RSI is starting to recover from the oversold zone, giving a signal that the bearish momentum is starting to weaken. However, confirmation of a new bullish trend is needed to confirm the direction of price movement.

2. Trading Volume

A price increase supported by increased trading volume will provide additional validation of a potential price rally.

3. Global Market Conditions

Global market fluctuations and news about cryptocurrency regulations can also influence investor sentiment towards XRP.

Read also: Can Having XRP Make You Rich? Explanation, Market Cap, and Today's Price

Conclusion

Ripple (XRP) is currently in a correction phase after a major rally that took the price to a peak level of $2.90 (around IDR 46,110). While this correction may worry some investors, key support levels such as $2.17 (around IDR 34,503) and $1.97 (around IDR 31,323) provide a good chance of stabilization. 

If these levels hold, XRP has the potential to start a new upward trend that could take the price to the next resistance level.

FAQ About XRP

Does XRP Have a Future?

On the four-hour chart, XRP is bullish. The 50-day moving average is up, indicating a strong short-term trend. Meanwhile, the 200-day moving average has risen since 03/12/2024, indicating a strong long-term trend.

How Much Will XRP Be Worth In 2025?

Ripple Based on current prices, that would be a 3900% increase.

Will XRP Hit $5?

Some analysts who use Elliot's Wave Theory - which is basically a way to predict market movements based on investor psychology - think that XRP is currently in the so-called “third wave”. Historically, this stage is the stage where prices tend to skyrocket. Based on this theory, XRP could potentially reach $5.80 before the end of the year.

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Reference 

CCN, Ripple (XRP) Bounces Back but Remains Stuck in a Descending Channel, accessed December 11, 2024.

coinmarketcap, XRP Coinmarketcap, accessed December 11, 2024.

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