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Ripple (XRP) price has surged more than 330% in the last 30 days, surpassing Solana’s market cap and reaching its highest levels in 6 years. However, its RSI is now at 46, a significant drop from the overbought level above 70 that was seen between November 29 and December 3, when XRP peaked around $2.90, its highest level since 2018.

This decline suggests that the bullish momentum has cooled, and the market sentiment is now neutral or slightly bearish. As a result, XRP could face a period of consolidation or mild downward pressure before any potential recovery.

XRP RSI Is Neutral After Consecutive Days Above 70

XRP RSI is currently at 46, a significant drop from the overbought level above 70 between November 29 and December 3, when its price peaked around $2.9, the highest since 2018.

The decline in RSI suggests that the recent bullish momentum has cooled off, and the market may now be in a neutral or slightly bearish phase.

XRP RSI. Source: TradingView

RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with values above 70 typically indicating an overbought condition, while values below 30 suggest oversold conditions.

With XRP’s RSI at 46, it indicates that the asset is neither overbought nor oversold, suggesting a neutral market sentiment. If this trend continues, Ripple price may experience a period of consolidation or mild downward pressure before a potential recovery.

Ripple CMF Is Now Around 0

XRP’s CMF is currently at -0.01, following a brief positive reading of 0.04 just a few hours ago. The indicator reached a negative peak of -0.25 on December 6, after remaining positive between November 29 and December 5.

This shift in the CMF suggests that XRP next movements are still uncertain, and the asset is struggling to maintain upward momentum.

XRP CMF. Source: TradingView

CMF, or Chaikin Money Flow, measures the accumulation and distribution of an asset over a specific period, taking into account both price and volume. It ranges from -1 to +1, with values above 0 indicating accumulation (buying pressure) and values below 0 indicating distribution (selling pressure).

The current CMF of -0.01 indicates a weak selling pressure, suggesting that while there was an attempt to reverse the downtrend, it was not strong enough to sustain the positive momentum. If this trend continues, it could indicate further downward pressure for XRP price in the near term.

XRP Price Prediction: Can Ripple Go Below $2?

Ripple EMA lines remain bullish, with short-term lines positioned above the long-term ones, suggesting an overall upward trend.

However, the current price is below the shortest line, indicating that the trend may be shifting and the bullish momentum could be weakening.

XRP Price Analysis. Source: TradingView

If a strong downtrend develops, XRP price could test the support at $2.16, and if that level fails to hold, it could fall as low as $1.63, potentially marking a 32% correction.

On the other hand, if Ripple price regains its upward momentum, following the more than 330% surge in the last 30 days, it could rise to retest $2.90 and potentially push toward $3, a level not seen since January 7, 2018.

$XRP
As XRP trades at $2.56 (+4.62%), experts are urging caution in the run-up to December 11, when the U.S. Senate will vote on a critical nomination for the SEC. Here’s why this date could have a major impact on Ripple and XRP’s price action:

The Senate Vote: What’s Happening? 🏛️
The U.S. Senate is set to decide whether Ms. Caroline, a staunch supporter of SEC Chair Gary Gensler’s tough stance on crypto, will join the SEC as its newest commissioner. Her confirmation could tilt the SEC's power balance further against Ripple and other pro-crypto movements.
Ms. Caroline’s Crypto Stance: Known for opposing pro-crypto regulations, her alignment with Gensler could mean stricter enforcement against digital assets.Ripple’s Case Implications: Ripple’s legal battles hinge on decisions made by all SEC commissioners, not just the Chair. If Caroline joins, she could influence crucial votes and outcomes.

Potential Market Impact 📉📈
1️⃣ If Caroline Is Confirmed:
Bearish Signals: Increased regulatory scrutiny could drive uncertainty, leading to a potential dip in XRP’s price.Short-Term Selling Pressure: Traders might offload XRP in anticipation of stricter rules or delayed regulatory clarity.
2️⃣ If She’s Rejected:
Bullish Surge: Confidence in Ripple’s legal momentum could skyrocket, pushing XRP toward its next price milestone.Renewed Investor Interest: A rejection might signal a softer regulatory approach, attracting more capital into XRP and similar assets.

Ripple’s Position: Strength Amid Uncertainty 💡
Despite regulatory concerns, Ripple has secured major legal and market victories in 2024:
XRP’s Utility Grows: Increasing adoption for cross-border payments and decentralized finance.Institutional Partnerships: Ongoing collaborations with banks and financial entities globally bolster its ecosystem.Community Momentum: XRP holders remain optimistic about its long-term potential.

What Should Investors Do? 🤔
💎 Hold Off Until December 11:
Risk-averse investors may prefer to wait until the Senate vote concludes to better understand the market’s direction.
📈 Long-Term Believers Stay Steady:
XRP’s bullish case, bolstered by adoption and regulatory clarity wins, remains strong regardless of short-term fluctuations.
⚠️ Trade With Caution:
The crypto market is notoriously volatile. Use tools like stop-loss orders and set price alerts for timely decisions.

Key Takeaway
December 11 is a make-or-break moment for XRP. The outcome of the SEC vote could influence XRP’s future trajectory and investor sentiment across the crypto market. Stay informed and prepare to act swiftly as the news unfolds!
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