Market Overview: XRP/Tether (XRPUSDT) 24-Hour Analysis

Summary
• Price declined from $2.026 to $1.997, breaching key support levels amid heavy volume.
• Momentum weakened with RSI signaling oversold conditions, suggesting potential rebound.
• Volatility remained elevated, with Bollinger Bands widening during late-night sell-offs.
• A bearish engulfing pattern formed early in the session, confirming downward momentum.
• Turnover spiked during the 14:45–15:00 ET window, signaling heightened bearish conviction.

Market Overview

XRP/Tether (XRPUSDT) opened at $2.026 on December 13 at 12:00 ET and closed at $1.997 by 12:00 ET the following day. The pair reached a high of $2.028 and a low of $1.987 during the session. Total traded volume amounted to 21,528,819 XRP, while notional turnover was approximately $43,643,273.

Structure & Formations

The price action displayed a bearish engulfing pattern early in the session, confirming a shift in sentiment to the downside. A key support level appeared to be forming around $2.01, where the price found resistance multiple times. A doji formed in the early morning hours, hinting at indecision before the sharp selloff.

Moving Averages

On the 5-minute chart, the 20-period MA crossed below the 50-period MA, forming a bearish “death cross.” The 200-period MA on the daily chart remained well above current levels, indicating medium-term bearish bias.

Momentum & Oversold Conditions

The RSI dipped below 30 during the late afternoon, signaling oversold conditions and raising the possibility of a near-term bounce. The MACD line crossed below the signal line early in the session, reinforcing bearish momentum.

Volatility and Bollinger Bands

Bollinger Bands widened during the selloff between 14:45 and 16:00 ET, reflecting heightened volatility. Price traded near the lower band for much of the session, indicating bearish pressure and potential consolidation near the $1.99 level.

Volume and Turnover Insights

Volume spiked during the 14:45–15:00 ET window as the price dropped below $2.00, signaling a strong bearish commitment. Turnover aligned with volume, showing consistent bearish conviction during the key selloff hours.

Fibonacci Retracements

On the 5-minute chart, the decline from $2.028 to $1.997 aligned with the 61.8% Fibonacci retracement level, suggesting a potential short-term bottom. Daily Fibonacci levels show further potential support at $1.98, where a key psychological level may provide a floor.

The price may find temporary support near $1.99–$2.00, with a possible test of the $2.01–$2.02 range. However, if the 61.8% Fibonacci level breaks, further downside could follow. Investors should closely monitor volume and RSI for signs of a reversal or continuation.