Ripple price has pulled back from Thursday’s high when it rose past the crucial level of $1.0000. As trading volume reduce and liquidity thins during the Christmas period, the altcoin will likely trade within a rather tight range over the weekend.
According to the CoinMarketCap, its trading volume has declined by 14.44% over the past 24 hours. During the same period, its market cap has dropped by 0.87%.
Ripple price prediction
XRP has edged lower after dropping from Thursday’s high of 1.0215. Notably, the altcoin rose past the psychologically crucial mark of 1.0000 in the previous session after trading below it for over three weeks.
At the time of writing, Ripple price was down by 1.5% at 0.9793. On a four-hour chart, it is trading above the 25 and 50-day exponential moving averages. Besides, it has remained steady above the long-term 200-day EMA since surging past it earlier in the week. Based on these technical indicators, the crypto will likely record further gains in the ensuing sessions.
In the immediate term, the range to look out for is between the 25-day EMA at 0.9484 and the week’s high at 1.0215. A move above the range’s upper border will likely push the resistance level to 1.0708. On the flip side, a pullback below the lower border may have Ripple price find support along the 50-day EMA at 0.9064.
