<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p> 
<ul> 
 <li><em>XRP bulls registered an impressive bounce from the 61.8% retracement level</em></li> 
 <li><em>Another retest of the $0.6-zone might yield a weaker response from buyers</em></li> 
</ul> 
<p><a href="https://ambcrypto.com/search/xrp" target="_blank" rel="noopener" data-wpel-link="internal">XRP</a> saw <a href="https://ambcrypto.com/can-xrp-sustain-its-position-as-the-fourth-largest-crypto/" target="_blank" rel="noopener" data-wpel-link="internal">steady gains</a> in October and November, but the latter half of November and December did not see such a strong rally. Instead, the last four weeks saw prices pull back to an important retracement level before bouncing higher.</p> 
<p>In addition to the higher timeframe support zone from $0.57-$0.6, the $0.528 and $0.549-levels were also important support levels that long-term investors could keep an eye on.</p> 
<h3 id="0-6-region-has-been-critical-over-the-past-month">$0.6 region has been critical over the past month</h3> 
<div id="attachment_358471" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-358471" decoding="async" class="wp-image-358471 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price.png" alt="XRP expected to bounce from this support zone, but are the bulls strong enough?" width="1940" height="1099" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price-300x170.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price-1024x580.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price-768x435.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-price-1536x870.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-358471" class="wp-caption-text">Source: XRP/USDT on TradingView</p>
</div> 
<p>XRP’s rally from $0.4729 to $0.7324 was used to plot a set of Fibonacci retracement levels (pale yellow). The 61.8% retracement level was at $0.572 and was tested as support on 21 November. It was followed by a bounce to $0.7 on 9 December, but Bitcoin’s losses saw XRP fall lower as well.</p> 
<p>However, this is not to say selling pressure has inundated the XRP market. The On-Balance Volume (OBV) formed a higher high as prices formed a lower high over the past month, a sign that buyer strength has been on the rise.</p> 
<p>The RSI was at 48 and suggested a shift in momentum in favor of the bears. On the other hand, the market structure of XRP was bullish. It would be flipped bearish upon a daily session close below $0.572.</p> 
<h3 id="decline-in-the-mvrv-ratio-a-positive-sign">Decline in the MVRV ratio a positive sign</h3> 
<div id="attachment_358472" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-358472" decoding="async" class="wp-image-358472 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment.png" alt="XRP expected to bounce from this support zone, but are the bulls strong enough?" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-3-XRP-Santiment-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-358472" class="wp-caption-text">Source: <a href="https://app.santiment.net/s/2bVK5ZpN" target="_blank" rel="noopener nofollow external noreferrer" data-wpel-link="external">Santiment</a></p>
</div> 
<p>The development activity took a sharp dip in recent days, but this was not a cause for concern given it is the festive season. Network growth has been rising since October, but conversely, the 30-day active addresses have trended south since July. It saw a minor uptick in late October and early November.</p>  
<p style="text-align: center;">Is your portfolio green? Check the XRP Profit Calculator</p>  
<p>The MVRV ratio climbed near late-July highs during the rally past $0.7 back in October. Since then, the metric has retreated closer to the zero-mark, but the price of XRP was near the $0.7 area once more. This suggested that profit-taking activity might not be as intense as the last time XRP pushed above $0.7.</p>

XRP buyers can expect some gains IF this condition is met

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