The
Market Overview
XRP slipped around 0.9% in the 24-hour period ending December 23, from around $1.92 to $1.90 after failing to hold resistance near $1.95. Price action remained contained within a relatively narrow range, with total volatility around 2.7%, reflecting indecision rather than capitulation.
Selling pressure intensified on Sunday evening when XRP was rejected near $1.93, triggering a return below the psychological $1.90 level. This rejection reinforced a trend toward lower highs that has defined recent sessions, keeping short-term momentum trending lower.
Technical analysis
The heaviest trading activity occurred around 22:00 UTC on December 22, when volume surged to around 74.5 million tokens, approximately 68% above the 24-hour average. The spike coincided with a sharp rejection of resistance near $1.93, confirming active selling rather than passive drift.
After the outage, XRP briefly fell to the $1.89 area, where buyers stepped in to stabilize prices. On shorter time frames, the decline showed signs of slowing, with consecutive candles holding above the session low near $1.893. A short-term rebound followed, pushing the price towards the $1.90-$1.91 area, but without a decisive follow-through.
Price Action Summary
- XRP failed to sustain gains above $1.93 after testing resistance near $1.95
- High volume accompanied the release, signaling distribution at higher levels
- The price briefly fell below $1.90 before stabilizing between $1.89 and $1.90.
- Subsequent rebound attempts lacked momentum, keeping the range intact
Overall, the session ended in consolidation rather than continuation in one direction or the other.
What traders should watch out for
Technical signals remain mixed. Some analysts point to the emergence of bullish divergences on momentum indicators, suggesting that selling pressure could weaken near recent lows. Others warn that XRP remains below key moving averages over longer time frames, a pattern that has historically preceded deeper correction phases when sustained.
Key levels now frame the short-term outlook:
- Support: Initial support lies near $1.89, followed by deeper levels around $1.87 and $1.77.
- Resistance: Overhead supply remains concentrated between $1.95 and $1.98, with the moving averages strengthening this area.
- Bias: A sustained rally to $1.93 would be needed to improve the near-term structure, while a clear break below $1.89 would reopen downside risk.
Until one of these levels gives way, XRP appears stuck in a consolidation phase, with traders watching for clearer confirmation of trend exhaustion or renewed downward pressure.
