Crypto Price Prediction For December 16: XRP, OSMO, ICP

Crypto Price Prediction: For nearly two weeks, the crypto market has been wavering in uncertainty, as the top 2 leading coins turned sideways after hitting yearly highs. The neutral candles in these assets show no clear initiation from bulls or bears. 

Though this indecisiveness caused a correction phase in major cryptocurrencies, few selective tokens XRP, Osmosis(OSMO), and Internet Computer(ICP)adhere to their bullish setup, preparing to unleash their next leap.

The worldwide cryptocurrency market capitalization currently stands at $1.59 trillion, marking a 1.82% reduction from the previous day. Over the past 24 hours, the total volume of the crypto market has reached $60.51 billion, experiencing a significant decrease of 27.69%.

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XRP Price Analysis: Is XRP Ready to Regain $0.8?

Decoupling from the broader market recovery, the XRP price has been trading sideways over the past two weeks. Amid this consolidation, the coin price navigates within a triangular pattern, bounded by converging trendlines. 

On December 13th, the coin price reverted from the pattern’s lower boundary, initiating a new bullish phase within the confines of the triangle. This shift is anticipated to propel the coin’s value upward by 7%, aiming for the upper trendline at $0.67.

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Coinciding with this market movement, the US Federal Reserve’s decision on December 13 to maintain the current interest rates, as announced during the Federal Open Market Committee (FOMC) policy meeting, has infused optimism among crypto investors.

Should the XRP price successfully breach the upper trendline of the triangle pattern, it would bolster buyer confidence and lead a rally to $0.78, followed by $0.84.

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A narrow range within the flattish boundaries of Bollinger band indicators accentuates increased volatility in this asset.

Osmosis Price Analysis: Has $OSMO Rally Hit Overbought Region?

Amid the broader market bullishness, the Osmosis (OSMO) coin embarked on a robust recovery phase in late October. Over the past two months, the coin’s value has soared from $0.225 to a peak of $1.5, marking a staggering growth of 566%. 

This meteoric rally seems to be buoyed by a key development in the Cosmos network, where the two largest decentralized exchanges (DEXs), Osmosis and Umee, are set to merge. This V-shaped recovery trajectory has successfully breached significant resistance levels at $0.686, $0.908, and more recently at $1.25, creating strong footholds for further upward movement.

Currently trading at $1.50, if the Osmosis price sustains above the $1.25 mark, there’s potential for an additional 20% gain, targeting the next major resistance at $1.78. 

However, with the Average Directional Index (ADX) at a high of 74%, there is a hint that buyers might be approaching a saturation point, potentially leading to a minor pullback in the near future.

Internet Computer Price Analysis: Will $ICP Recovery Extend to $15?

The Internet Computer (ICP) coin began its recovery journey in mid-October, bouncing back from a support level of $2.87. This recovery gained significant traction on December 13, marked by a decisive breakout from a resistance trendline that had been influencing a downtrend for the past 20 months. 

Following this breakout, the ICP price soared to its current trading price of $9.25, achieving a remarkable weekly increase of 76.82%. In the midst of this rally, the coin recently surpassed a key resistance level at $8.28, which now acts as a solid foundation for buyers to extend the recovery. 

Maintaining stability above this level could see the altcoin aiming for higher resistances at $9.83, $11.4, and $15. The Relative Strength Index (RSI), currently at an elevated 88%, underscores the aggressive trading momentum among investors.