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Ripple (XRP) Price Analysis for December 19

Can traders expect a breakout of $0.60 shortly?
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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 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 no plans to enter the correction zone even on the weekend as almost all of the Top 10 coins are in the green zone. XRP is the only exception to the rule, declining by 0.93%.

Top 10 coins by CoinMarketCapTop 10 coins by CoinMarketCapThe market capitalization has also increased since yesterday. The growth has accounted for around $6 billion.

Cryptocurrency market capitalizationCryptocurrency market capitalization

The relevant data for XRP looks the following way today:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $26,430,375,369

  • Price: $0.581923

  • Volume (24h): $12,076,279,461

  • Change (24h): -0.68%

The data is relevant at press time.

XRP/USD: Any chances left of fixing above $0.60?

XRP is the only coin among the Top 10 coins whose rate is located in the red zone. The price of the third most popular coin has gone down by 0.74% since yesterday.

XRP/USD chart by TradingViewXRP/USD chart by TradingView

On the hourly chart, XRP has the chance to retest the local resistance at $0.6139. However, it is too early to consider the update of the peak levels as the bulls’ power is not enough now based on liquidity and low trading volume.

XRP/USD chart by TradingViewXRP/USD chart by TradingViewOn the 4H time frame, the sideways trend is the more likely scenario as XRP needs to accumulate more power before further growth. In this case, the coin may locate in the range of $0.60-$0.62 soon.

Thus, high liquidity in that area supports such an option.

XRP/USD chart by TradingViewXRP/USD chart by TradingViewDespite the drop from almost $0.80, bulls have managed to seize the initiative. At the moment, XRP is slowly approaching the $0.6525 mark. If bulls can break it, the next target is the retest of $0.79 and setting new peaks of 2020.

XRP is trading at $0.5854 at press time.

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