XRP’s price has reversed sharply, losing 25% despite Bitcoin’s surge past $100,000. After a 500% rally from November to early December, many are asking: is Ripple’s bull run over?
📊 Technical Outlook
XRP’s daily chart shows potential for a rebound if it closes above $2.1793. Patterns like a hammer or doji candlestick signal a possible bullish reversal. Analysts predict a return to $2.90, and breaking this level could push XRP to its all-time high of $3.37, or even $5. However, a drop below $2.1793 could lead to a correction down to the 50% Fibonacci level at $1.6475.
⚖️ Fundamental Factors
Ripple’s fundamentals remain strong, with the announcement of Paul Atkins as the new SEC chair, praised by Ripple CEO Brad Garlinghouse. Atkins is expected to bring regulatory clarity, potentially benefiting XRP. Ripple is also advancing its ecosystem with the upcoming RLUSD stablecoin, designed for institutional use and aimed at enhancing cross-border payments.
🔥 Tailwinds for XRP
Bitcoin’s surge has boosted the altcoin season index and crypto sentiment, with the fear and greed index above 80. These factors, combined with Ripple’s developments, suggest XRP may still have room to climb.
🚀 What’s Next?
XRP’s daily close will be critical. Above $2.1793 signals bullish continuation; below it hints at a retracement. Keep an eye on these levels as XRP navigates this pivotal moment.
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