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XRP led crypto losses on the second-to-last day of the year, with reduced expectations for continuous interest rate decreases by the Federal Reserve contributing to a drop in Bitcoin and cryptocurrency prices. U.S. equities also fell as investors trimmed positions amid uncertainty heading into the year's end.XRP has dipped nearly 6% in the last 24 hours; at the time of writing, it was down 5.96% to trade at $2.02.
XRP is trading in a symmetrical triangle pattern on its daily chart and may remain between its support and resistance lines for some time. The RSI below the midway might suggest that the bears have an advantage. The next trending move is expected to begin whenever the XRP price breaks above or below the triangle. A breakout might propel XRP above $2.90, while a breach below the support line could indicate that XRP has reached its short-term peak. XRP's price may then drop to $1.62.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.