Key Levels to Watch as XRP Price Pushes Towards a Record Yearly Close: Here's the Outlook

Ripple's XRP might close this year at its highest price ever. Crypto trader Steph Is Crypto posted about this on X (formerly Twitter), pointing out that XRP has never ended a year at prices this high before.

Cryptocurrency prices have been on a wild ride this year, and XRP is no exception. The coin started the year trading at around $0.25, and it hit an all-time high of nearly $0.75 in April. After a downturn in the market, XRP began to consolidate in the $0.50 to $0.60 range. But in recent weeks, XRP has made another strong move to the upside, and it’s now trading at around $0.70.

If XRP continues to rise and closes the year above the $0.75 resistance level, it would be a major technical breakout on the macro time frame. This breakout could pave the way for new growth opportunities in the market. Here’s a closer look at the XRP price chart and what traders are saying about the next key levels to watch.

XRP Price Chart Analysis: Key Levels to Watch

The XRP price chart shows a clear uptrend in 2023, with the coin making higher highs and higher lows throughout the year. From the early days of XRP trading at around $0.005 in 2013 to its all-time high of nearly $3 in 2017, XRP has seen some incredible price action.

After a bear market in 2018 and 2019, XRP began to consolidate in the $0.25 to $0.35 range. But in 2021, XRP made another strong move to the upside, and it hit a high of nearly $0.65 in April. After another downturn in the market, XRP began to consolidate again, this time in the $0.50 to $0.60 range.

But in recent weeks, XRP has made another strong move to the upside, and it’s now trading at around $0.70. If XRP continues to rise and closes the year above the $0.75 resistance level, it would be a major technical breakout on the macro time frame. This breakout could pave the way for new growth opportunities in the market.

On the downside, key support levels for XRP appear in the $0.50 to $1.00 range, where the cryptocurrency has consolidated in the past. This foundation provides a base for further upward movement.

Crypto Trader Steph Is Crypto Bullish on XRP Price at Key Level

Crypto trader Steph Is Crypto is bullish on XRP at this key level. In a recent tweet, Steph highlighted the XRP price chart and pointed out that the coin has never closed a year at prices this high before.

This observation has got XRP investors paying close attention to where prices might go next. With the year coming to an end, there’s a lot of anticipation building around XRP and other cryptocurrencies.

Steph Is Crypto XRP Tweet Sparks Reactions from Community

Steph’s tweet has sparked a lot of reactions from the XRP community, with many expressing optimism and excitement about the coin’s price performance. Here are some of the reactions:

One user commented, “This is huge for XRP. It’s been a long time coming, but we’re finally seeing the coin get the recognition it deserves.”

Another user added, “I’m so glad I bought XRP at the beginning of the year. It’s been an amazing ride, and I can’t wait to see what happens next.”

Overall, the mood in the XRP community is upbeat as the coin approaches a critical price point at the end of the year.