XRP Price Analysis for December 11

The last day of the week is neutral for the cryptocurrency market as neither bulls nor bears are dominating at the moment.

XRP/USD

The rate of XRP has gone down by 0.39% since yesterday. Over the last week, the price has fallen by 0.81%.

On the daily chart, the rate of XRP has made a false breakout of the support at $0.3852. If the growth can continue to the resistance at $0.3870, there is a chance to see an upward move tomorrow.

The situation is not as bullish on the bigger time frame as the rate keeps accumulating power for the next sharp move. Volatility is declining, which means that neither buyers nor sellers are ready for a sharp move. In this case, sideways trading in the range of $0.38-$0.39 is the more likely scenario for the upcoming days.

On the weekly time frame, the price has once again bounced off the support level at $0.37192. While the rate is above it, there is a chance for local growth. In this regard, the rise could continue to the $0.40 zone.

XRP is trading at $0.3870 at press time.

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