Ripple Is Looking for a Way Out as the Price Is Still Set Up for Bearish Run

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Ripple is looking for a way out as the price is still set up for a bearish run. The crypto traders are primarily focused on the result of the US securities and exchange lawsuit filed against Ripple.

However, the judge is still under a lot of pressure as we wait for a summary judgment. The cryptocurrency market is currently looking for a way out amid several allegations that are currently being disproved by Ripple lawyers.

Ripple Key Levels To Watch – December 6

The bulls were previously defined as pushing forward following price penetration above the $0.37400 key zone. They, however, ran out of steam as sellers raced in.

Ripple Is Looking for a Way Out as the Price Is Still Setup for Bearish Run

The bears are currently folding out as the price is still heading toward a significant level of $0.37400. If selling pressure persists, sellers could penetrate this key zone.

The momentum indicator is currently declining as buyers cannot stand a chance. However, the tide could change in the coming days as the parabolic SAR (stop and reverse) indicator is grinding upward.

XRP Key Levels

Resistance Levels: $0.53400, $0.44300, $0.40600
Support Levels: $0.37400, $0.33400 $0.35700

Total Market Capitalization: $38.3B
Ripple Market Capitalization: $19.5B
Ripple Volume: $8.7B
Market Rank: #7

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.