XRP Price Prediction For December 10
XRP has slipped to fourth place, down more than 14% in the past 24 hours. As of this writing, the price is just over $2. XRP has tested key breakout points and 2021 highs, and this retest has resulted in a strong rally. However, the price has yet to break above any previous highs, indicating that further movement is needed to establish an uptrend.
Current market structure suggests It is believed that XRP may still be in the fourth wave of major correction. After experiencing three waves of decline in wave A and three waves of rise in wave B, XRP is now experiencing wave C of decline. Despite the rebound, the price has yet to break above the previous high, meaning further movement is needed to confirm the uptrend.
Possibility of further downside
Despite the rebound, it is still possible, even likely, that we will see a new low. There is no confirmation that a low has been established yet. During liquidity events, such as those we have seen recently, rapid price movements make it difficult to determine the microstructure of the wave. While another decline cannot be ruled out, it is worth noting that the price has hit the 100% extension of wave A, a common target for wave C.
next support level
If the price continues to fall, the next support level to watch is around $1.85, where we see two key support areas overlapping, followed by $1.78 and $1.66. The market is still following the predicted path and it is crucial to monitor the performance of the broader crypto market, including Bitcoin, as this may influence where XRP moves next.
