XRP Price Analysis for December 1

Please fol­low and like us:
Pin Share

Dis­claimer: The opin­ion expressed here is not invest­ment advice – it is pro­vid­ed for infor­ma­tion­al pur­pos­es only. It does not nec­es­sar­i­ly reflect the opin­ion of U.Today. Every invest­ment and all trad­ing involves risk, so you should always per­form your own research pri­or to mak­ing deci­sions. We do not rec­om­mend invest­ing mon­ey you can­not afford to lose.

Buy­ers could not hold the ini­tia­tive for long as the rates of most of the coins are going down again.

Top 10 coins by CoinMarketCap

XRP/USD

XRP has joined the list of falling coins, declin­ing by 1% since yesterday.

XRP/USD chart by TradingView

XRP is try­ing to hold above the local sup­port lev­el at $0.3976 formed by the false break­out. How­ev­er, if buy­ers can­not fix above the $0.40 mark by the end of the day, the decline may lead to a decline to $0.3950 tomorrow.

XRP/USD chart by TradingView

On the dai­ly chart, nei­ther bulls nor bears are dom­i­nat­ing at the moment. If buy­ers want to with­stand sell­ers’ pres­sure and keep the rise going, they need to restore the rate to the $0.4150 mark.

Thus, the trad­ing vol­ume should grow in order to increase the chance of a pos­si­ble upward move.

XRP/BTC chart by TradingView

The sit­u­a­tion is bear­ish on the chart against Bit­coin (BTC), as the price is com­ing back to the sup­port lev­el at 0.00002313. If the bar clos­es near it, the accu­mu­lat­ed ener­gy might be enough for a decline to the 0.000022 zone.

XRP is trad­ing at $0.3991 at press time.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *