XRP Price Analysis for December 17

Most of the coins have followed the decline of Bitcoin (BTC), according to CoinMarketCap’s ranking.

XRP/USD

XRP is not an exception, going down by 6.50% since yesterday.

On the hourly chart, XRP is trading in the narrow range between the support at $0.3490 and the resistance at $0.3565. The price has tested the upper level several times, but has failed to fix above it.

If it succeeds, there is a probability to see a local rise to the $0.36 mark.

On the bigger time frame, the rate of XRP has made a false breakout of the support level at $0.3479. While the price is above it, there is a chance for a short-term correction. However, if closure happens near the $0.35 mark, one can expect a drop to the $0.33 zone soon.

XRP is looking bearish on the daily chart against Bitcoin (BTC) as the price is near the local support level at 0.00002114. In this case, the more likely scenario is a continued downward move to the 0.00002 area.

XRP is trading at $0.03551 at press time.

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