XRP Price Prediction For December 5
Ripple’s XRP is currently down more than 8% in the past 24 hours and is trading near $2.33. XRP price has increased by 60% in the past seven days, and according to Crypto World analyst Josh, XRP remains in a strong bullish trend on the longer time frame despite encountering resistance.
The analyst also observed that XRP failed to break above the short-term resistance at $2.80. After briefly moving higher, the price quickly rejected and fell back down.
Major resistance is near $3
XRP has encountered significant resistance near the $3 level, which is a key psychological point and a Fibonacci extension. XRP’s all-time high (ATH) is just over $3, at around $3.30. This makes the $3 mark an even more critical point for price action as it is very close to ATH. Typically, when price is near its top, it tends to face resistance due to the historical significance of that price point.
short term pullback
XRP is facing a minor correction after hitting resistance at $3. This is normal in a bull market and does not mean the market is turning bearish. Short-term pullbacks can occur even during larger uptrends.
Given the $3 rejection and current price action, we may see a deeper pullback in the near term. A pullback could test lower support levels such as $2.50 or even $2.30, providing a better entry point for those looking to re-enter long positions.
Continued bullish trend:
However, despite the short-term volatility, the long-term outlook remains bullish. XRP remains in a broader uptrend, and these pullbacks may provide traders with opportunities to accumulate additional positions at favorable prices.
