- XRP price Is down 80% since all-time highs.
- Ripple hovers below all three daily moving averages.
- Invalidation of the bearish thesis is a breach above.
XRP price is putting up a fight against the bearish stronghold but has yet to score a win against the attack. If market conditions persist, the Ripple bears could breach this year's low.
XRP price consolidates
XRP price is at an 80% loss of market value since the all-time highs at $1.98 were established in April 2021. On December 24, the digital remittance token hovers above a trend line that has consistently provided support throughout summer and the fall. As the price floats above the barrier, the bears have a few indicators in their favor suggesting XRP will revisit the low end of the range near $0.31 and potentially breach the yearly low at $0.298.
XRP price is trading at $0.35. The bulls and bears have sparred over a 4% range between $0.33 and $0.35 for more than a week. The 50-day, 100-day, and 200-day simple moving averages hover above XRP's current trading range. Classical price action traders would argue that Ripple is in a definitive downtrend based on the indicators' position in the market.
If the market is genuinely bearish, the next attempt at the weekly low at $0.33 could be the catalyst for a sweep-the-lows event targeting $0.298. The bears could tread into 2020 liquidity levels in the mid $0.20 zone due to the breach of the yearly low.
XRP/USDT 1-Day Chart
Invalidation of the bearish thesis is possible, but the bulls will need to first hurdle above the 50-day simple moving average at $0.40 to justify aiming for higher targets within the monthly consolidative zone. The next bullish targets would be the 100-day and 200-day simple moving averages at $0.42 and $0.48. The bullish scenario creates the potential for a 40% upswing move if the bulls are successful.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
PEPE Price Forecast: PEPE could rally to double digits if it breaks above its key resistance level
Pepe (PEPE) memecoin approaches its descending trendline, trading around $0.000007 on Tuesday; a breakout indicates a bullish move ahead.
Tron Price Prediction: Tether’s $1B move triggers TRX ahead of US Congress stablecoin bill review on Wednesday
Tron price defied the broader crypto market downtrend, surging 3% to $0.25 on Monday. This bullish momentum comes as stablecoin issuer Tether minted another $1 billion worth of USDT on the Tron network, according to on-chain data from Arkham.
Ethereum Price Forecast: Short-term holders spark $400 million in realized losses, staking flows surge
Ethereum (ETH) bounced off the $1,800 support on Monday following increased selling pressure from short-term holders (STHs) and tensions surrounding President Donald Trump's reciprocal tariff kick-off on April 2.
BlackRock CEO warns Bitcoin could replace US Dollar as global reserve currency, crypto ETFs witness inflows
BlackRock CEO Larry Fink stated in an annual letter to investors on Monday that the US national debt could cause the Dollar's global reserve status to be replaced with Bitcoin if investors begin to see the digital currency as a safer asset.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.