On December 2, recent market movements indicate that XRP and Bitcoin are approaching key technical support levels, while the Nasdaq shows signs of correction pressure in November. FPG International suggests that the current market is at a critical juncture of bullish-bearish contention, urging investors to closely monitor price action amid potential volatility.

For XRP, prices have dropped over 6% this week, testing a crucial support level around $2. This level has been a battleground for market sentiment since December last year, with multiple weekly candlesticks showing extended lower shadows, signaling diminishing selling pressure. FPG International warns that a decisive break below this support could trigger concentrated selling, leading to a steeper decline. Conversely, if prices stabilize and breach the descending trendline from July near $2.50, XRP’s mid-term uptrend may regain confirmation.

Bitcoin, currently trading around $87,092, is hovering near a historically significant support zone—comprising the uptrend line from 2023, the 100-week simple moving average, and the 38.2% Fibonacci retracement from the 2022 bear-market low to recent highs. FPG International highlights that a breakdown here could accelerate short-term downside risks, potentially targeting April’s swing low near $74,500, with further declines toward the $70,000 level (2021’s bull-market peak). Bulls must reclaim the 50-week SMA (~$102,252) to reaffirm the broader uptrend. Some traders are already adopting cautious strategies, preparing for a potential dip below $80,000 early next year.

Meanwhile, the Nasdaq’s monthly chart shows a "hanging man" candlestick pattern—a bearish reversal signal characterized by a small body at the top and a long lower shadow (twice the body’s length), suggesting weakening momentum. FPG notes that tech assets like Bitcoin and the Nasdaq often move in tandem, and this pattern may signal broader market fatigue. Investors should watch subsequent monthly candles for confirmation of a trend reversal or consolidation.

FPG International cautions that the year-end market uncertainty is rising, with XRP and Bitcoin’s support tests and the Nasdaq’s potential topping pattern dimming hopes for a traditional "Santa Rally." Investors are advised to prioritize risk management and position control.

Longer-term, FPG suggests that if key supports hold, markets may find new upside opportunities in early 2026. However, a breakdown could usher in a corrective phase, necessitating defensive strategies and trend-confirmation signals to optimize portfolios. The current period is pivotal for market direction, with heightened short-term volatility but medium-to-long-term trends hinging on technical and liquidity indicators.