XRP Price Prediction For December 17
Ripple’s RLUSD is launching today (December 17), and the XRP price could explode. Analysts say that XRP is currently in the late stages of the third wave cycle on the daily chart, which may still continue higher and potentially hit new all-time highs.
While we have not yet seen a clear end to the third wave, it is possible that it will continue to move higher until we see a correction in the fourth wave. Possible targets for the final move this cycle could be between $5 and $9.81.
As of this writing, XRP is trading below $2.50 but has gained over 2% in the past 24 hours.
Key Price Levels and Support Areas
Currently, XRP is trading between its 2021 highs and all-time highs. This area is crucial for understanding potential price action. If XRP continues to hold above this range, there is a good chance that XRP will break out to its all-time high, although this is not guaranteed.
Micro patterns and short-term trends
Observe the microstructurethere were three downward waves starting from the swing high formed on December 3, followed by three upward waves (wave B). Subsequently, a downward correction wave C formed, allowing XRP to retest the 2021 high and form support. This suggests that short-term price action remains bullish.
Although XRP has not yet moved out of the corrective price channel in an impulsive manner, a breakout of the corrective price channel is a positive sign. The first target after this breakout is usually the beginning of the channel, around $2.90. This target is consistent with the typical length of wave C, which usually matches the length of wave A.
Watch out for potential pullbacks
If the price breaks below the $2.33 level and then $2.28, the price may test the lower support area between $2 and $2.23. From there, XRP may attempt another rally.
