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XRP Price Analysis for December 22

Thu, 12/22/2022 - 20:00
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Denys Serhiichuk
Can traders expect bounce back of XRP soon?
XRP Price Analysis for December 22
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls could hold the initiative until the end of the day as most of the cryptocurrencies are back to the red zone.

Top 10 coins by CoinMarketCap


Despite the fall of the majority of coins, the rate of XRP is almost unchanged since yesterday.

XRP/USD chart by TradingView

On the hourly chart, XRP has formed the support at $0.34169. At the moment, the rate is coming back to it, which means that bulls are not powerful enough for a short-term rise.

Bitcoin (BTC) Price Analysis for December 21

If the bar closes below it, the fall may continue to the $0.34 zone tomorrow.

XRP/USD chart by TradingView

On the daily time frame, the rate is located in the middle of the channel, accumulating power for further movement. If buyers want to seize the initiative, they need to restore the rate above the $0.35 zone. Only in that case are there chances to see a local upward move.

XRP/BTC chart by TradingView

XRP is feeling a little bit more positive on the chart against Bitcoin (BTC) as the price remains above the support level at 0.00002007. If bulls can hold the gained initiative, the correction may lead to the test of the resistance at 0.00002102 soon.

XRP is trading at $0.3435 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at