XRP/USD Approaches Critical Support at $0.50
Ripple Price Prediction – January 22
The Ripple price prediction shows that XRP is lacking imminent support within the market and may continue to trade in the red.
XRP/USD Market
Key Levels:
Resistance levels: $0.80, $0.85, $0.90
Support levels: $0.45, $0.40, $0.35
At the time of writing, XRP/USD is correcting downwards after having hit the resistance at $0.65. However, the king coin (Bitcoin) is seen trading below $35,000 and has an impact on the overall trading volume and market cap as well. Currently, the Ripple coin is exhibiting an intraday dip and bearish move, alongside, lack of support.
Ripple Price Prediction: Ripple (XRP) Could Fall More
The daily chart reveals that the Ripple Price is seen correcting downwards after having soars at $0.65 resistance but unable to hit the higher resistance. Therefore, the coin is now moving towards the major support at $0.50 but now hovering around $0.58 support. However, the moment the coin rightly gains the required momentum, it is ought to bounce back and retest the formed resistance.
Now, the technical indicator Relative Strength Index (14) stays within the oversold region with its signal lines pointing to the south. Should the bears prevail over the bulls by keeping the price below the 9-day and 21-day moving averages; XRP/USD may slide towards the supports at $0.45, $0.40, and $0.35. In other words, if the bulls decide to push the price above the moving averages; the price could find its high at the resistance levels of $0.80, $0.85, and $0.90 respectively.
Against Bitcoin, for the past few days now, Ripple (XRP) has been consolidating below the 9-day and 21-day moving averages, but the coin is yet to slum below the lower boundary of the channel as bulls are not likely to return back into the market. Meanwhile, during the European Session today, the coin touches the resistance level of 1786 SAT, traders can expect a price rise to the resistance level of 1850 SAT and above.
However, if the sellers push the price down below the lower boundary of the channel, the next support level could be located at 1600 SAT and further support may be found at 1550 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) moves below 40-level, causing the market to drop more.
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