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Home News Ripple News

XRP price prediction: fall to $0.45 if $0.48 support level breaks

Joshua O'Sullivan by Joshua O'Sullivan
December 15, 2020
in Ripple News
5 min read
xrp price prediction
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TL;DR Breakdown

  • XRP price prediction expects a fall to $0.45 if support fails
  • Bullish activity seems to be abating
  • Bears set to continue decreasing XRP price into late December
  • Volatility decreasing as XRP price falls
  • Weekly chart paints XRP as still bullish

XRP has seen huge price swings since November – having reached highs of $0.78, and now falling down to below $0.50. For those holding XRP now, the short-term future remains uncertain.

Following the climatic and long-awaited Flare airdrop on the 12th of December 2020, XRP prices fell though little volume movement appeared. As a result, the market saw the bears gain the upper hand and XRP prices descend below $0.50.

At the time of writing, XRP price is currently $0.485 – down 2.51 percent on the opening price of the day.

Use the oscillator below to check what role XRP might play in your portfolio.

Technical Analysis for XRPUSDT by TradingView

XRP price prediction: 1-Day chart overview

XRP price prediction: fall to $0.45 if $0.48 support level breaks 1

The 1-Day chart overview shows that XRP price is now submerged below the Exponential Moving Average (EMA) now. Having been above it since mid-November, this rebound effect was to be expected as the price swings bearish.

Volume remains bearish and moderate in comparison to the height of November, while the Relative Strength Index (RSI) depicts XRP moving down towards a state of becoming oversold. If this RSI pattern continues, Bitcoin-holders may begin to pour liquidity back into XRP with cheap XRP/BTC rates.

The Historical Volatility Index (HV) shows us a steady volatility decrease as prices stagger below $0.485. On this 1-Day chart, it is clear that bearish activity correlates to an ever-decreasing volatility level and the general descending market trend.

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XRP price prediction: 1-Week chart overview

XRP price prediction: fall to $0.45 if $0.48 support level breaks 2

Observing the 1-Week chart overview, the first aspect to contemplate is the Moving Average Convergence Diverge (MACD) 4C indicator. Despite the bearish outlook, the MACD 4C indicates the continuance of bullish momentum and no current sign of dropping. This will be monitored and concluded at the end of the week.

The RSI dips below a level of 70 depicting XRP exiting a state of becoming overbought. As such, price falls can be expected as the RSI heads to balance out around a level of 40-50 RSI.

The trend of the market on the 1-Week chart candlesticks show XRP‘s fall from fame as the $0.48 support level prepares to be tested today and this week. If this support level is to break, a drop to $0.45 can be expected as panic-selling begins.

XRP price prediction: volatility chart overview

1-Day volatility chart

XRP price prediction: fall to $0.45 if $0.48 support level breaks 3

As XRP price descends, so too does the volatility chart on the 1-Day XRP HV indicator.

The controversial aspect of this chart is that the 1-Week volatility chart instead shows a steep rise in volatility, as XRP price retraces back towards $0.45.

For the visual effect and comparison, the 1-Week volatility chart below should be compared to the 1-Day volatility chart above.

1-Week volatility chart

XRP price prediction: fall to $0.45 if $0.48 support level breaks 4

XRP price prediction conclusion: fall to $0.45 if XRP price descends below $0.48 support level

XRP price prediction: fall to $0.45 if $0.48 support level breaks 5

To conclude this price prediction, XRP prices look to be falling towards $0.45 if the $0.48 support fails to hold.

As can be seen, the Moving Average Crossover (MA Crossover) shows the distinct crossover point on the 11th of December 2020. This markedly shows XRP support at this level falling, and prices begin to traverse a descending channel. Patterns are not always the most reliable prediction methods, but MA Crossovers tend to be mathematical and indicate a sudden change in price movement.

The MACD and RSI on this chart show steady decline as XRP price crumbles towards the $0.48 support level.

Despite most oscillators’ short-term sell signals, weekly and monthly oscillators still mostly indicate to buy rather than sell at this point. This could be a delayed reaction to the sudden change in XRP price, or a more macro perspective of XRP‘s general outlook. We will see by the end of the week.

As always, please trade safely, carefully, and only trade what you can afford to lose.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Tags: cryptocurrency tradingcryptomarket
Joshua O'Sullivan

Joshua O'Sullivan

Joshua has been a professional writer, editor and proofreader for close to a decade. He has created books, resuscitated multiple patients and managed to survive multiple life threatening experiences. With these experiences, he is always willing to strive to the challenge of any opportunity presented.

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