Key Takeaways
- XRP price faces significant resistance at the $2 zone, making a drop below this level a possibility.
- Technical indicators suggest a bearish trend, with the Relative Strength Index (RSI) indicating oversold conditions.
- A break below the $2 zone could lead to further downward movement, potentially targeting the $1.80 level.
XRP Price Analysis for December 14
The XRP price has been experiencing a period of consolidation over the past few weeks, with the cryptocurrency struggling to break above the $2 zone. As we approach the middle of December, traders are wondering if XRP will drop below this critical level next week. In this analysis, we’ll take a closer look at the technical indicators and market trends to determine the likelihood of a drop below $2.
Technical Indicators
The Relative Strength Index (RSI) is currently indicating oversold conditions, with a reading of 30. This suggests that the XRP price may be due for a bounce in the short term. However, the moving averages are still pointing to a bearish trend, with the 50-day MA crossing below the 200-day MA. This bearish crossover could lead to further downward pressure on the price.
Market Trends
The overall market sentiment is still bearish, with many investors expecting a continuation of the downtrend. The lack of significant bullish news or catalysts has contributed to the stagnant price action, and it’s possible that XRP will follow the broader market trend. If the $2 zone is broken, the next level of support is at $1.80, which could be a potential target for bears.
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