Bitcoin

<ul>
 <li><em>XRP sank to a zone of support&nbsp; just above a key Fibonacci level.</em></li>
 <li><em>The $0.68 zone could rebuff bullish efforts in the coming weeks.</em></li>
</ul>
<p><a href="https://ambcrypto.com/search/xrp" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Ripple [XRP]</a> prices sank 17% from 16th December to 18th December before seeing a minor bounce from the $0.57 <a href="https://ambcrypto.com/xrp-price-falls-2-in-24-hours-will-the-0-5-prediction-come-true/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">support zone</a>. The technical indicators showed that long-term investors need not panic.</p>
<p>Instead, the recent pullback represented a buying opportunity. If <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> bulls could defend the $42k zone and push higher, it would be good news for XRP holders and the wider market as well.</p>
<h4><strong>The 61.8% Fibonacci level has been respected</strong></h4>
<div id="attachment_359480" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359480" decoding="async" class="wp-image-359480 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price.png" alt="XRP in an accumulation phase just above $0.6, more gains anticipated" width="1940" height="1099" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price-300x170.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price-1024x580.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price-768x435.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-price-1536x870.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-359480" class="wp-caption-text">Source: XRP/USDT on TradingView</p>
</div>
<p>The one-day price chart of XRP showed that the $0.57-$0.61 was a zone of support. On the lower timeframes, this area brought about a bullish market structure in mid-November. This rally saw XRP reach $0.7 before slumping once more.</p>
<p>While the price did recede to $0.6 again, the OBV has marched steadily higher. This showed buying pressure has been consistent and reinforced the idea that XRP would rally higher once more.</p>
<p>The RSI showed a reading of 45 to reflect bearish momentum at press time.</p>
<p>The $0.6 area represented a good risk-to-reward buying zone for XRP bulls targeting $0.7 and higher, provided Bitcoin does not witness a large wave of selling.</p>
<h4><strong>The formation of a range is a strong possibility</strong></h4>
<div id="attachment_359479" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359479" decoding="async" class="wp-image-359479 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock.png" alt="XRP in an accumulation phase just above $0.6, more gains anticipated" width="1866" height="1014" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock.png 1866w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock-300x163.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock-1024x556.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock-768x417.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-2-XRP-hyblock-1536x835.png 1536w" sizes="(max-width: 1866px) 100vw, 1866px"></a>
 <p id="caption-attachment-359479" class="wp-caption-text">Source: <a href="https://hyblockcapital.com/liquidationlevel-heatmap" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Hyblock</a></p>
</div>
<p>AMBCrypto also analyzed the liquidation heatmap data from Hyblock. The past three months of data showed that the $0.55-$0.565 was an area with a high volume of estimated liquidation levels.</p>
<p>Therefore a sweep of this level would be a welcome sight, as prices would likely bounce higher afterward.</p>
<p style="text-align: center;">Is your portfolio green? Check the <a href="https://ambcrypto.com/calculator/ripple-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">XRP Profit Calculator</a></p>
<p>To the north, the $0.63 and $0.68 also represented small but noticeable pockets of liquidity.</p>
<p>Additionally, the $0.686 level has served as resistance since 11th November for XRP. Hence, a range formation between $0.58-$0.68 over the coming weeks is possible.</p>
<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>

Why XRP price predictions might come true soon

AMBCrypto

Other articles published on Dec 20, 2023

Top Lending Protocol Expands to Sui for First Launch Outside of Solana

Bitcoin's Ongoing Volatility Persists Amidst Market Fluctuations

Aves Metaverse

How Much Can AI Really Change? Examining Operational Impact

The Rise of Solana: Factors Behind Its Surging Value

Solana Price Prediction As $SOL Rally Breaks Key Resistance to Chase $100

Join our free newsletter for daily crypto updates!