XRP's technical analysis points to a potential 20% price decline in December, with overleveraged positions likely exacerbating the downward pressure.
XRP (XRP) has surged 26.50% in the last 24 hours to reach $1.95 on Nov. 30, its highest level since April 2021. Its rally has been driven primarily by rumors that the New York Department of Financial Services (NYDFS) will approve Ripple’s RLUSD stablecoin in December.
However, at least three XRP indicators point to bullish exhaustion in the coming days, which may result in a 20% correction from the current levels.
The first signs of an impending XRP price correction come from its prevailing ascending channel.
