The crypto markets have been extremely uncertain ever since the collapse of the FTX exchange which created a ripple of fallouts further. This has slashed the value of the majority of the cryptos and XRP was no exception. However, ever since the beginning of December trade, the XRP price maintained a notable strength which is believed to be eased soon.
The token is on the verge of providing not just one but 2 buying opportunities in the coming few days. Meanwhile, there has been a massive drop in volume due to which the price failed to generate the necessary momentum to break above the key resistance at $0.40. Additionally, the coin rejected the 200-day MA, shining a chance to reach the lower support at $0.34 during the weekend.
However, the descending trend may certainly be extended as the XRP price is all set to enter the buy zone very soon.
During the previous cycles, the XRP price achieved higher targets. However, the price is trading close to the support area which may provide another long opportunity for the market participants. Therefore, the price could see an immediate bounce back from the current levels, initially rising above the trend line and later the key resistance above $0.41.
Conversely, if the current bearish trend intensifies, then the price may break down from the support and enter the buy zone very soon. The initial buy zone prevails between $0.352 to $0.349 and if the token fails to hold here, may head towards the next buy zone at $0.32203 and ignite a rebound, flashing a ‘buy’ signal.
