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Key XRP Support and Resistance Levels for This Weekend

Key XRP Support and Resistance Levels for This Weekend

HappyCoinNewsHappyCoinNews2024/12/21 21:33
By:HappyCoinNews

Despite the volatility of Bitcoin and the crypto market in general, XRP managed to consolidate above the $2 mark for most of the month, maintaining resilience amid intense market liquidations.

True, December 20 token dropped to $1,97, but even after that XRP regained its position above the psychologically important level of $2.

Analysts have identified key support and resistance levels that could shape the trajectory XRP this weekend.

Price change chart XRP in 7 days. Source: CoinGecko

December 20 evening XRP traded at $2,24, down more than 7% over the past seven days. However, on the monthly chart, the asset remains in the green zone — plus 105%.

Cryptanalyst DarkDefender has identified critical levels for XRP on the four-hour timeframe. After testing resistance at $2,72 XRP rolled back to the support level at $2,17, where a double touch pattern appears to be forming.

Price analysis XRP . Source: DarkDefener/X

The $2,17 level remains critical for short-term stability. If this support fails, the next level to watch is $2,09, with a deeper correction potentially targeting $1,92. On the other hand, immediate resistance lies at $2,50, a key level that XRP must be overcome to restore bullish momentum.

A decisive break above $2,62 would mark the end of the current correction and open the doors for further growth.

Analyst Ali Martinez noted that a rebound to $2,62 could trigger $20,50 million in short liquidation, a move that could serve as a catalyst for increased upward momentum, potentially bringing XRP to the next major milestone of $3.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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