InsideBitcoins.com

Ripple Price Prediction: XRP/USD Struggles To Pass $0.24 Level as the Price Gained 1.88%

XRP Price Prediction – January 17

XRP/USD is making an attempt to keep its upward movement as the buyers struggle to move the coin into a new height.

XRP/USD Market

Key Levels:

Resistance levels: $0.25, $0.27, $0.29

Support levels: $0.21, $0.19, $0.17

XRPUSD – Daily Chart

XRP/USD has been increasing slowly since a couple of days ago, earning around 1.88% during the negotiation today. Looking at the daily chart, Ripple (XRP) has been rising and falling since January 10 after a bullish rally. The bulls strongly control the market with a current movement near the upper boundary of the ascending channel and above the 9-day and 21-day moving averages.

In addition, Ripple (XRP) remains the third-largest cryptocurrency with a market cap of $10.26 billion. The Ripple price has seen a slight increase in the market over the past 24 hours and it is currently trading around $0.230. For now, XRP/USD has been back on the rise since the start of January as it managed to surge above the moving averages.

Moreover, if the price breaks out of the ascending channel, the resistance levels of $0.25, $0.27 and $0.29 could be visited. Meanwhile, on the downside, the market can be supported at levels of $0.21 and $0.19 and if the price falls below the previous levels, another support is around $0.17. The stochastic RSI has already climbed into the overbought zone and this crossover has confirmed a robust bullish move for the market.

When compared with BTC, the coin is consolidating within the descending channel and still trading around the 9-day and 21-day moving averages at 2642 SAT. Meanwhile, the bulls are making effort to push the price above the moving averages, should in case they succeed, the bullish continuation could take the price to the resistance levels of 2800 SAT and 2900 SAT respectively.

XRPBTC – Daily Chart

Furthermore, looking at the daily chart, if the bulls failed to hold the price, the coin may likely fall below the moving averages and further dropping could bring it to the lower boundary of the channel and meet the nearest support levels of 2400 SAT and 2300 SAT. The RSI (14) moves in the direction, suggesting a sideways movement.

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.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • Excellent choice for U.S. customers
  • Paypal accepted
  • CySEC & FCA regulated
  • Buy 12+ cryptocurrencies
4.5/5

eToro Reviews

    eToro Reviews

    https://insidebitcoins.com/visit/etoro-newsCreate your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Established stock-exchange listed company
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees and low spreads
    4.5/5

    Plus500 Reviews

      Plus500 Reviews

      https://insidebitcoins.com/visit/plus500-newsCreate your account
      Hide Plus500 Reviews
      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.