XRP in first major pullback since November: Key price levels to watch

AMB Crypto 10 months ago 297

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Posted: December 12, 2024

XRP ($2.32) profit-taking intensifies in the second week of December as bullish activity cools off.
A recap of XRP spot flows and the state of the derivatives segment.

Just over a week ago, Ripple’s native coin XRP was enjoying robust bullish momentum. It even achieved a new 8-month high in the first week of December, building on the momentum it achieved in November.

XRP has since bulled back from the recent top as traders took some profits off the table. For context, XRP topped out at $2.90 on 3rd December. It has since pulled back to a weekly low (so far) of $1.90, which was equivalent to a 20% pullback.

This pullback means we now have a rough idea of where the latest rally and started and ended. Mapping a Fibonacci retracement indicator on the bottom to top range revealed that price could drop to the $1.41 to $1.69 range.

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