XRP experienced a significant decline of 13% on December 5, trading at $2.30, in stark contrast to Bitcoin which surpassed the $100,000 mark. This drop, which began on December 3, resulted in XRP losing the gains it had achieved earlier in December, specifically a multi-year high of $2.90. XRP’s market capitalization decreased by 8%, falling behind Tether USD in market rank. Despite rallying 354% from November 1 to December 5, XRP’s value against Bitcoin has also diminished. On December 5, over $12.8 million in long XRP positions were liquidated. Technical indicators show a potential bull flag pattern, suggesting that if XRP breaks through the upper trendline at $2.37, it could target new highs around $4.83. However, a drop below this level could lead towards lower support levels at $2.05 and possibly $1.68.

Source 🔗