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XRP Price Analysis for December 29

Has XRP reached its deep of 2020?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. 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.

The cryptocurrency market has slightly switched to red since yesterday. XRP remains the main loser, falling by 32.43% over the last day.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Meanwhile, the total market capitalization has fallen by around $10 billion.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP is looking the following way:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $9,053,319,432

  • Price: $0.199827

  • Volume (24h): $9,350,037,449

  • Change (24h): -32.61%

The data is relevant at press time.

XRP/USD: Can buyers hold the $0.11 support?

XRP is the main loser today, with the rate of the third most popular crypto decreasing by more than 30% just over the last day.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, XRP has reached the level of $0.20 where most of the liquidity is focused. However, buyers seem like they are not going to seize the initiative even in the short-term case, and there are chances to see XRP trading at $0.11 shortly.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the bigger chart, bears are also controlling the situation. The last week is supported by a large selling trading volume. If bulls cannot hold the $0.20 mark, XRP may trade at $0.13 next week.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

The monthly chart is also bearish, signaling that the nearest stop may be at the mirror level at $0.069.

👉 MUST READ XRP Price Analysis for December 27related article image

This is a far retest of the April 2017 level. Overall, XRP has no buyer support at the moment.

XRP is trading at $0.1967 at press time.

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Denys Serhiichuk

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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com