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Ripple (XRP) formed a descending triangle but inside that triangle formed a falling wedge. So, in what direction is the price going? Well, in the current circumstances the probability that the price will break on the upside is much higher. If that happens, we should be able to see XRP / USD rise to $ 0.50 towards the end of December. The price is still in a long-term bearish phase and has yet to exit the downtrend channel in which it is traded. That said, the odds of a reversal at this point are very high, although Ripple (XRP) has to go back to current levels for a double fund in the future.
While most have crashed hard in the last 24 hours with losses of more than 5%, Ripple (XRP) has held out against both Bitcoin (BTC) and the US dollar (USD). This is a new development that would not have made sense until recently. Previously, Ripple (XRP) was the currency to beat for going long or running short. The cryptocurrency had the potential to make aggressive moves in both directions depending on the direction of the market. However, since Ripple (XRP) has exceeded Ethereum (ETH) in market capitalization, this trend seems to have completely changed. Now Ripple (XRP) maintains its foundation even as the rest of the market falls and gains aggressively when the market goes up. It is difficult to say whether this transition is completely organic or induced, but it has made a big difference with regard to investor confidence.
The cryptocurrency that until recently was called bank money and centralized currency now has the same people as investors who once criticized it heavily. This continues showing how feelings do not have time to change. Ripple (XRP) had solid fundamentals but the sentiment was against it. The Ripple team (XRP) was competent enough to recognize the real interests of its target audience and acted successfully to attract those investors who once criticized it. Ripple (XRP) initially adopted a strategy to directly tackle Bitcoin (BTC), but this did not serve as well as the entire cryptic community opposed it. Later, when he focused more on cases of using cross-border payments, he was able to get a much greater uptake and penetration into the crypto community.
Ripple (XRP) may be on the verge of a bullish rupture against the US dollar (USD), but things do not look good with Bitcoin (BTC). In fact, XRP / BTC has a chance to overcome this resistance at this point. If he can not do it, he will have to fall back into the descending channel. The reason why things look different with Ripple (XRP) is that it did not follow the same trajectory as other cryptocurrencies. This is why it is reasonable to assume that it could be due to a short-term retracement against Bitcoin (BTC). However, if it faces a rejection at the top of the channel, then it will have to fall much further.
