XRP Price Prediction For December 12
Ripple’s XRP is currently up over 4% and trading at $2.40. XRP’s current chart remains largely unchanged, with the main outlook suggesting that XRP may be in the later stages of a bullish structure. The question now is whether this will break out to a new all-time high, or if the price will test the all-time high around $3.30.
Key support and resistance levels
Observed reaction The previous breakout occurred at the 2021 high. The green line on the chart, which represents this breakout point, was tested from above yesterday. XRP may still be in its third wave, with one more potential high before the market moves forward.
Even if the price falls below the green line, indicating short-term weakness, there is still a Fibonacci support zone between $1.5 and $1.7. However, support levels on smaller time frames are more critical in the short term.
Larger Time Frame Outlook
The outlook remains that XRP is in the third wave of the cycle. This continues until the market deviates significantly from this pattern. If this happens, after the fourth wave is completed, the fifth wave may bring the price into the $5 to $10 range.
critical support levels
To maintain the bullish scenario, the price should ideally hold at $1.99, which is the 78.6% retracement of yesterday’s advance. In a more bullish scenario, the price should not fall below this level. Other support levels lie between $2.20 and $1.99, including $2.14, $2.07, and $1.99. This is a key area where price should hold before potentially pushing higher.
While there is no guarantee that a pullback will occur, it is possible that Wave A or A may form another high, resulting in a five-wave move upward. Key support areas are ideal locations for buyers to step in if a pullback occurs.
