XRP Price Analysis for December 31

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. 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 last day of the year is about to close in the bullish zone, according to the CoinMarketCap ranking.

XRP/USD

The price of XRP is outperforming the top coins, going up by 1.42% over the past 24 hours.

On the hourly chart, the rate of XRP has made a false breakout of the support at $0.34 against the low volume. Moreover, the price has fixed above the resistance at $0.3429.

If buyers can hold XRP above that mark until the end of the day, the upward move may continue to $0.3460 tomorrow.

The situation is less positive on the bigger time frame as the price remains closer to the support zone than the resistance. If bulls lose the $0.34 mark, the accumulated energy might be enough to break the $0.3321 level.

The forming weekly candle shows neither bullish nor bearish signals for XRP. This statement is also confirmed by the low volume, which means that traders are losing interest in the altcoin. Nevertheless, a decline to $0.32 may be a prerequisite for a sharp move to the support level at $0.2870.

XRP is trading at $0.3437 at press time.