XRP Price Prediction for December 7: Sellers Continue to Dominate as Weak Momentum Persists

• XRP struggles below $2.05, with bearish sentiment dominating market momentum.
• Weak spot inflows signal cautious sentiment as traders avoid aggressive positions.
• $2.00 support zone crucial; failure risks further declines towards $1.72.

XRP’s price outlook for December 7 reveals ongoing weakness, as the cryptocurrency hovers near $2.03, continuing its downward trend since September. The failure to maintain any meaningful upward movement, coupled with consistent rejections at higher levels, has shifted the market bias firmly in favor of sellers. The token is now testing the critical $2.00 support zone, and if it fails to hold, further downside could be imminent.

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Price Action and Key Technical Indicators

XRP’s price action remains confined to a descending channel, with every rebound met with rejection at lower levels. The Supertrend indicator remains red, signaling ongoing bearish pressure, and the Parabolic SAR dots continue to sit above the price, reinforcing the dominance of sellers. Currently, the $2.00 level is a key support zone, but the inability to sustain a recovery above this level could lead to further losses, targeting $1.83 and $1.72.

Source: Tradingview

On the one-hour chart, XRP broke below a short-term ascending trendline, which had previously supported a minor recovery attempt. This has caused the price to consolidate beneath the trendline, keeping the bearish bias intact for the short term. Additionally, XRP remains within the lower half of the Bollinger Bands, indicating that downward pressure persists, with little sign of a sustained reversal.

Market Sentiment and Data Reinforce Bearish Outlook

Recent spot market data reveals weak flows, as $4.36 million in inflows were recorded in the latest session. However, these inflows seem more reactive than proactive, signaling a lack of strong accumulation interest and a market still wary of significant upside potential. Traders appear more focused on stabilizing the price rather than seeking aggressive bullish positions, indicating that sentiment remains fragile.

Source: Coinglass

In the derivatives market, open interest stands at $3.64 billion, showing a decline from recent highs. This drop, along with an 18% decrease in futures volume and a 60% collapse in options volume, underscores a lack of conviction in the market. Top traders remain predominantly net-long, but their reduced exposure further suggests a cautious approach in the current environment.

XRP Price Forecast

Looking ahead to December 7, the outlook remains largely bearish unless XRP can reclaim key resistance levels. A break above $2.15 and $2.39 would signal a potential shift in momentum, opening the door to higher targets such as $2.62 and $2.91. However, if the $2.00 support fails to hold, XRP is at risk of further declines towards $1.83 and $1.72.

The technical indicators, spot flows, and derivatives data all point to continued bearish momentum for XRP. Sellers remain in control, and any recovery attempts are likely to face strong resistance. The next few sessions will be critical in determining whether the price can stabilize or if further downside is ahead.

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