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Ripple Price Prediction: XRP/USD Retest $0.23 Support While the Focus Shifts to $0.27

XRP Price Prediction – January 19

Ripple’s short-lived recovery brushes shoulders with $0.24 and upholds the support at $0.23.

XRP/USD Market

Key Levels:

Resistance levels: $0.27, $0.29, $0.31

Support levels: $0.21, $0.19, $0.17

XRPUSD – Daily Chart

Ripple price is slowly declining below key support against USD. XRP/USD price might revisit the $0.220 support before it could start a fresh increase. After struggling to stay above $0.243, Ripple started a slow and steady decline. The coin traded below the key $0.235 support level to move into a short term bearish zone.

Moreover, the pair is currently exchanging hands at $0.232 and any attempt to make it cross below the 9-day moving average may open the doors for more downsides and the price could spike below the $0.210 support level.  However, we should keep an eye on the $0.190 and $0.170 before creating a new bullish trend at the resistance levels of $0.270, $0.290 and $0.310.

Furthermore, we may experience a quick buy once the trade reaches the support at $0.220. And if the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunity for traders, which might cause the price to retest $0.210 and could further drop to $0.190 and $0.170 support levels respectively. The RSI (14) nosedive to level 60. If the price moves downward, XRP may fall more.

When compared with Bitcoin, the Ripple market price is ranging and trading within the channel since December 19. For now, it is trading at 2682 SAT and expecting a break below the moving averages. Looking at the chart, both the bulls and the bears are struggling on who will dominate the market.

XRPBTC – Daily Chart

However, should the market make attempt to fall below the moving averages, the next key supports could be 2500 SAT and below. Meanwhile, on the bullish side, a possible rise could take the market to the resistance level of 2900 SAT and 3000 SAT. According to the RSI (14), the market is indecisive as the price is still moving in sideways.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.