XRP, Litecoin, Hedera Price Analysis: Is The Rally Over?

Bitcoin’s (BTC) upside momentum toward the $100,000 milestone has slowed down all over again as traders’ attention turns toward cryptocurrencies that underperformed compared to the overall crypto market until November.

On Dec. 3, the top cryptocurrency dropped by circa 3%, reaching around $94,400. That is almost a week after it established a new record high of $99,800. In the same period, Bitcoin’s crypto market dominance has also witnessed a 9.25% decline, indicating growing capital flows from Bitcoin to altcoin markets.

Among the top beneficiaries of the ongoing fund flow are Litecoin (LTC), XRP (XRP), and a small-cap smart contracts platform called Hedera Hashgraph (HBAR).

XRP Technical Analysis

XRP/USD Four-Hour Price Chart — Prepare For a 20% Correction in December

XRP price has rallied by over 400% since November 2024. However, bulls now face mounting pressure to sustain the rally, with the cryptocurrency eyeing declines toward $2.175 in December, down about 20% from the current price levels.

The bearish outlook comes as XRP/USD trades within a key resistance range of $2.72–$2.85, aligning with the 4.236 and 4.618 Fibonacci retracement lines. This range coincides with the pair’s ascending trendline resistance on the four-hour chart, which recently preceded 13-20% corrections toward a parabolic support target.

A rejection from the resistance confluence could trigger a pullback toward the $2.175 target, aligning with the 2.618 Fibonacci extension level, the parabolic support, and the 20-4H exponential moving average (20-4H EMA; the purple curve).

XRP’s overbought territory, as indicated by the Relative Strength Index (RSI) sitting above 82—well above the threshold of 70—furthers the possibility of short-term price corrections in December.

XRP must break above the $2.85 resistance to invalidate the bearish outlook decisively.

XRP/USD Weekly Price Chart — Another 75% Rally By Q1 2025?

XRP/USD has broken decisively above a multi-year symmetrical triangle pattern, triggering a powerful bullish breakout.

The move has taken XRP to $2.72, marking its highest level since May 2021. The breakout follows several weeks of consolidation, where XRP held support at the 50-week EMA near $0.75 and the triangle’s lower trendline.

The breakout aligns with a surge in trading volumes, signaling strong bullish momentum. XRP eyes a run-up toward the 1.618 Fib level near $3.00, which is now acting as major resistance. The potential upside target afterward is the 2.618 Fib level near $4.67, up 75% from the current price levels.

However, the weekly RSI is flashing warning signals, registering an extreme overbought reading of 92.37—levels not seen in years. Historically, such readings have preceded corrections or periods of consolidation.

Should a correction ensue, immediate support is at the $1.97–$2.00 range (the 1.0 Fibonacci level and previous breakout point). Should bearish momentum intensify, a deeper correction could test the triangle’s upper trendline near $1.60 or the 50-week EMA at $0.75.

Litecoin Technical Analysis

LTC/USD Four-Hour Price Chart — Selloff Looks Probable

Litecoin has surged by over 80% since November to reach $125 on Dec. 2. In doing so, the LTC/USD pair has been trending inside an ascending parallel channel, bouncing toward the upper trendline after testing the lower trendline and vice versa,

The rally marks a continuation of bullish momentum further supported by rising trading volumes and sustained support from the 50-period EMA, now at $102.97.

As of Dec. 2, Litecoin faced resistance near $125–$136, with the 1.618 Fibonacci extension level at $136.86 as a key barrier. The RSI hovers at 74, indicating overbought conditions, which could fuel a short-term pullback.

Litecoin’s immediate support lies at the $120–$115 range, corresponding to the recent rally’s 0.618 and 0.5 Fibonacci retracement levels. A deeper correction could test the resistance-turned-support trendline near $105.25, coinciding with the 50-period EMA near $103, further aligning with the ascending channel’s lower boundary.

In other words, LTC/USD can drop by 15% from its current price level in December 2024.

LTC/USD Weekly Price Chart — Multi-Year Resistance Broken

Litecoin has broken above a multi-year descending trendline—accompanying strong trading volumes—after a prolonged consolidation trend at around the $60 level.

In doing so, LTC’s price has more than doubled since the September breakout,  rallying past $128 for the first time in more than two years. Its move follows a prolonged consolidation phase, where Litecoin held support near $60 before staging a decisive recovery.

The breakout has pushed LTC above the 0.382 Fibonacci retracement level near $178, with the 0.618 Fib level at $258 emerging as the next key resistance. Beyond that, the 1.618 Fibonacci extension level near $600 could come into focus if bullish momentum persists.

However, the RSI has climbed to 77.51, signaling overbought conditions that have historically preceded pullbacks or periods of consolidation. If a correction occurs, immediate support lies at the $95–$100 range, where the 200-week EMA and the descending trendline converge. A deeper retracement could see LTC testing the 50-week EMA near $78.

Hedera Technical Analysis

HBAR/USD Four-Hour Price Chart — Doji Raises 30% Correction Risks

HBAR’s price has rallied by 525% since November, trading for $0.28 on Dec. 2. Nonetheless, it shows signs of short-term bullish exhaustion due to two technical signals: a Doji formation and overbought RSI on its four-hour chart.

A Doji candlestick forms when an asset’s open and close rates are almost identical. In an uptrend, it indicates indecisiveness among traders about the asset’s potential to continue rallying, which typically leads to price declines.

Coupling HBAR’s Doji with its extremely overbought RSI at over 86.60 raises the cryptocurrency’s potential to reach the 0.20 target by December. The level is down by 30% from the current prices and aligns with HBAR’s ascending trendline support and 0.382 Fib line.

HBAR/USD Weekly Price Chart: Record High in Sight

HBAR’s 40% rally this week has pushed its price to $0.30 for the first time since January 2022. In doing so, the cryptocurrency is now trading slightly above its 0.786 Fib level ($0.26), which served as critical resistance between January and April 2022.

The market’s prevailing upside momentum increases HBAR’s probability of breaking above $0.26 decisively in December, which may prompt traders to test the record high of $0.58 next.

On the downside, immediate support lies at $0.22, near the 0.618 Fib retracement. A deeper correction could bring the price back to $0.17–$0.14, where the EMAs and the 0.236 Fib level converge.