December 21, 2018 AtoZ Markets – After a huge bullish momentum in cryptomarket, Ripple price is trading near $0.38 mark with a 24 hours volume of 47.70 Million. At the time of press, Ripple has a market cap of $15.3 Billion, according to coinmarketcap stats.
Since last week, the price of Ripple has surged by $ 0.08540 (28.73%) with a total volume of over $ 247.88 Million. The highest price of the coin, $ 0.3998, was on 19 December 2018 at 15:00 GMT, while the lowest price, $ 0.2815, was on Saturday, 15 December 2018 at 17:00 GMT.
Ripple Price Prediction for Short Term
Looking at the weekly charts, we saw a solid upward move and a new weekly high at $0.3998 in Ripple price against the USD. Later on, the XRPUSD pair started a downside correction and traded below the $0.3600 support level. However, the $0.3472 area acted as a strong support for the coin. In addition to this, the 61.8% Fibonacci retracement level of the upward move from the $0.3140 low to $0.3947 high provided strong support to Ripple price.
Moroever, the price of the coin bounced back and traded close the $0.3998 swing high. However, buyers failed to clear push the price above the key $0.3900-0.4000 resistance zone. A high was formed at $0.3998 and the price dipped once again. Ripple decline and traded below the $0.3650 level. However, the 61.8% Fibonacci retracement level of the last wave from the $0.3409 low to $0.3898 high acted as a support. At the outset, there is a key breakout pattern forming with resistance near $0.3840 on the hourly chart of the XRPUSD pair. Therefore, the pair is likely preparing for the next move either above $0.3900 or towards $0.3400.
In conclusion, Ripple price is clearly well supported above $0.3472, $0.3112, and 100 hourly SMA. Thus, there are high chances of an upside break above the $0.3924 resistance. Finally, if there is a successful break above $0.4112, the price might rally towards $0.45 handle.
Ripple Daily Pivot Points
Ripple has a daily support near $0.3474 and resistance near $0.3924 levels.
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