XRP’s recent performance: XRP faced a pullback, trading at 2.41 USD, reflecting a 0.95% daily drop and 4.67% weekly decline. This follows an impressive 288% rise in 2024, reaching a peak of 2.90 USD before corrections began.
Potential impact of the Fed’s rate cut: The Federal Reserve’s expected 0.25% rate cut on December 17-18 could reignite XRP’s momentum. Historically, such cuts lead investors to cryptocurrencies, often benefiting XRP through increased purchasing power and interest.
Critical support and resistance levels: XRP must maintain support at 2.36 USD (50-day EMA) to prevent further declines. Breaking this level could lead to prices dropping to 2.22 USD and 2.04 USD. Resistance sits at 2.50 USD, a break could push XRP towards 2.65 USD and higher.
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