XRP could potentially drop by 15-20% in December due to bearish technical indicators and increased distribution by whale investors. After peaking at $2.90, XRP has fallen over 25% to around $2.13 by December 23. The price faces resistance at the 1.618 Fibonacci level near $3 and has established support around $1.98. A correction phase is evident, with the weekly relative strength index (RSI) indicating overbought conditions. Furthermore, the decline in supply held by large addresses hints at profit-taking among significant holders, adding to downward price pressure. A descending triangle pattern on the daily chart suggests a bearish outlook, with a potential drop to $1.69 if the $2.19 support breaks. Conversely, a bounce from this support could lead to a retest of the upper trendline near $2.50, and improvements in market sentiment, such as favorable developments in the SEC vs. Ripple case, could drive further interest in XRP, possibly pushing the price toward $3.50 by January 2025. The article emphasizes the importance of monitoring market dynamics during this correction phase.

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