After the previous two trading days without volumes and calm in the XRP market, sellers tried to take a step towards their dream. Yesterday’s daily candle closed at $0.553, confidently lowering the XRP price by 12%. In a previous article, we wrote about the critical range of $0.46-0.52, in which the medium-term direction fate of the price movement should be decided. So far, sellers have not been able to confidently test this range. But the probability of a continued price fall remains high. The trading volumes are unpleasantly surprising According to the trading volumes on the XRP market, it is safe to say that from 26 November the impulse growth wave correction continues. Attempt by buyers on 1 December to fix below $0.66 was unsuccessful precisely because of the reluctance of buyers to show strength: This fact is especially noticeable if we compare the trading volumes from 1 to 3 December with the volumes from 21-24 November. As a result of the obvious buyers’ weakness, the XRP price without any problems broke the local trend line, which buyers held from 21 November. At the moment, buyers’ reaction to this fact does not inspire the continuation of their trend. In the local critical range of $0.62-0.63, sellers laid their foundation to build the trend. Therefore, while the XRP price is below this range – the initiative remains with sellers. XRPBTC does look like the price growth will continue Analyzing the pair XRPBTC – we can see that yesterday the price reached the mark below which the fall may accelerate: Given the fact that XRP is weak against both USDT and BTC, in our opinion the test of $0.46 is inevitable. The probability of the fall continuation to $0.35 is possible only with a serious BTC correction, namely below $17,200. Let’s see if buyers will find the strength to tame the range of $0.62-0.63. Only in this case, it is necessary to consider the continuation of the price growth to $0.8-0.85.
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