Technical analysis on the daily chart indicates a bullish trend. Prices bounced off a long-term downward resistance line in October and a short-term trend line in December.
XRP price forecast: On December 18, XRP jumped above this line, creating a longer lower shadow. However, the daily RSI does not confirm this breakout as the indicator remains at 50. However, the price action can still be considered bullish as Ripple is also trading above the small horizontal area at $0.60.
If the rally continues, XRP could rise 20% and reach the 0.618 Fib level of $0.75.
Despite the bullish outlook, a close below the $0.60 area will negate the breakout. In this scenario, there is a high probability that the altcoin price will fall by 25% to the next closest support level at $0.47.