Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    Why Coinbase’s June 13 Update Has XRP and SOL Traders on Alert
    NewsCrypto

    Why Coinbase’s June 13 Update Has XRP and SOL Traders on Alert

    According to news sources, Coinbase is set to expand its derivatives platform…

    By
    Jane Omada Apeh
    May 30, 2025
    image 30 May 2025 12 40 50
    CryptoMarketNews
    Pi Coin Faces Crucial Weeks as Technical Indicators Flash Red
    May 30, 2025
    PSG Reveals Bitcoin Treasury Strategy: The Crypto World Cheers
    NewsBitcoinCrypto
    PSG Reveals Bitcoin Treasury Strategy: The Crypto World Cheers
    May 30, 2025
    Bybit MiCAR license
    NewsCryptoMarket
    Bybit Expands into Europe with MiCAR License and Vienna Headquarters
    May 30, 2025
    Ethereum ETF Inflows Surge to $71M, Will ETH Price Follow to $2,900?
    NewsCryptoEthereumMarket
    Ethereum ETF Inflows Surge to $71M, Will ETH Price Follow to $2,900?
    May 30, 2025
  • Cryptocurrency
    Why Coinbase’s June 13 Update Has XRP and SOL Traders on Alert
    Why Coinbase’s June 13 Update Has XRP and SOL Traders on Alert
    7 Min Read
    image 30 May 2025 12 40 50
    Pi Coin Faces Crucial Weeks as Technical Indicators Flash Red
    3 Min Read
    PSG Reveals Bitcoin Treasury Strategy: The Crypto World Cheers
    PSG Reveals Bitcoin Treasury Strategy: The Crypto World Cheers
    5 Min Read
    Bybit MiCAR license
    Bybit Expands into Europe with MiCAR License and Vienna Headquarters
    6 Min Read
    Ethereum ETF Inflows Surge to $71M, Will ETH Price Follow to $2,900?
    Ethereum ETF Inflows Surge to $71M, Will ETH Price Follow to $2,900?
    7 Min Read
    image 297
    Updated List: 5 Top New Meme Coins to Buy and Hold for Long Term — Last Hours of Stage 6 for a 191.6% Rising Presale
    8 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: XRP on the Edge: Will Ripple’s Crypto Bounce Back? Key Levels to Watch
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > Crypto > XRP on the Edge: Will Ripple’s Crypto Bounce Back? Key Levels to Watch
CryptoNews

XRP on the Edge: Will Ripple’s Crypto Bounce Back? Key Levels to Watch

XRP on the Edge: Will Ripple's Crypto Bounce Back? Key Levels to Watch
XRP on the Edge: Will Ripple's Crypto Bounce Back? Key Levels to Watch
Maxwell Mutuma
Last updated: December 12, 2024 10:23 am
By
Maxwell Mutuma
Published December 12, 2024
4 Min Read
Share

The native cryptocurrency for Ripple, XRP, has seen its first bearish correction since its bullish rally started in November. After hitting an eight-month high earlier this month, the digital asset has been on a major retreat as profit-taking has taken over market activity. As such, this correction has pinpointed important price levels that traders must watch closely going forward.

Contents
Recent Price Action and Fibonacci SecretsSpot Flow Trends versus Demand DynamicsFurther bearish sentiment is indicated in the Derivatives MarketKey Levels to Watch and Volatility

Recent Price Action and Fibonacci Secrets

On December 3, XRP reached $2.90 before pulling back 20% to a weekly low of $1.90. In the wake of this, the cryptocurrency recovered partially and was trading at $2.31 at the time of writing. Fibonacci indicators have mapped out retracement potential levels ranging from $1.41 to $1.69.

XRP on the Edge: Will Ripple's Crypto Bounce Back After a Bearish Twist?

Source: TradingView

If this downtrend is to continue, XRP may find support within this retracement range. Whether the cryptocurrency will continue to drop or consolidate largely relies on the market around these levels. Though the broader selloff exists, some investors are cautiously optimistic with the slight resurge from the weekly low.

Spot Flow Trends versus Demand Dynamics

Instead, XRP’s trading activity in the spot market sees its demand in supply in constant flux. At the time, spot inflows experienced a peak on December 1, as 177.33 million XRP flowed into the market as buying strengthened. But from December 4 on, outflows started ruling the flow, reaching 155.79 million XRP, right in line with a price drop.

XRP spot flows

Source: Coinglass 

For the last 10 days, we have consistently had a situation where outflows displaced inflows, demonstrating a weakening of the bullish sentiment. Also, the latest inflow figure of $11.35 million on December 10 is far less than previously. The shift higher in spot flows suggests further downside is likely unless demand picks up quickly.

Further bearish sentiment is indicated in the Derivatives Market

XRP, too, reflects a cautious outlook in its derivatives market activity. According to Coinglass data, negative funding rates were on a noticeable climb on December 11 — a sign of increasing short-selling activity. Traders’ waning bullish enthusiasm is evident from a decline in positive funding rates.

XRP funding rates

Source: Coinglass 

The cooling of demand in the spot market is reflected in a corresponding rise in bearish positions in the derivatives market. Rising expectations of a price decline typically lead to negative funding rates, which may reinforce downward pressure. However, the mood could change suddenly due to market events or liquidity-induced volatility.

Key Levels to Watch and Volatility

This recent pullback indicates XRP is more vulnerable to volatility than other coins, with liquidations causing Tuesday’s trading session to swing wildly. Market participants are finding it hard to understand the changing sentiment, and hence, the potential for extreme price swings is high. Traders should watch key support levels near $1.41 and $1.69, at which Fibonacci retracement comes into play.

On the other hand, a new breakout above the $2.50 mark can trigger a renewed bull rally. Market watchers should also monitor demand-inducing factors (for instance, regulatory changes and institutional interest) that may otherwise impact the current track.

It will largely depend upon the demand and supply forces during the coming days. The cryptocurrency’s fortunes will ride on the interplay between spot flows, public sentiment on derivatives markets, and broader market conditions.

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Donald Trump Boosts XRP! Ripple CEO Predicts a New Era for Crypto

Best New Meme Coins to Buy This Week: BTFD Coin’s Bulls Squad Goes Full Throttle as CHILLGUY Surges 19% and SPX6900 Holds Strong at $0.80

Arctic Pablo Coin Presale Reaches Penguinopolis at $0.000067 Price, While Dogecoin Saw a 5% Surge and $TRUMP Shows Uptick in Trading Volume

Singapore-based Company Crypto.com Announces New Champions League Sponsorship

Ethereum Rally: Can Bulls Push ETH to a 23% Move to $3,440?

TAGGED:RippleXRP price

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
ByMaxwell Mutuma
Follow:
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
Previous Article Shilling Meme Coins: How Influencers Are in the Crosshairs of the Law Shilling Meme Coins: How Influencers Are in the Crosshairs of the Law
Next Article Supreme Court Shocker Nvidia Must Face Crypto Lawsuit Supreme Court Shocker: Nvidia Must Face Crypto Lawsuit
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English