XRP Price Prediction: XRP/USD Rebounds Northward Away from the Recent $0.30 Range Trading Value

XRP Price Prediction – January 31
XRP/USD has rebound northward from a range-trading line been experienced barely over a month. A spike that occurred yesterday signaled bright opportunities for buying pressures.

Key Levels:
Resistance levels: $0.60, $0.70, $0.80
Support levels: $0.30, $0.25, $0.20

XRPUSD – Daily Chart
The January 30 bullish candlestick signals a clear-cut for decent resurface of a bullish XRP/USD market trend. Today, the trend continues to increase in a stead-pace manner. The smaller 14-day SMA trend-line now points towards the north below the bigger 50-day SMA. Like wisely, the Stochastic Oscillators have moved northbound. Yet, they point towards the north direction. All of, signify that buying pressures are ongoing with strong forces.

Will XRP/USD’s value keep hold for long over the $0.30 mark?
A bullish candlestick that occurred yesterday stands to be the determinant yardstick should the current upsurge in the XRP/USD market has to prolong further. As at the time of writing, price trades around $0.50 value with a good myth of pushing more to the north. The market resistance levels around $0.60 and $0.70 may not easily trade past in the near sessions. Nevertheless, a forceful breakout of the two points will allow the crypto-economy to revisit a previous resistance built-up around $0.80 high value.

At the trading-zone of the $0.80 mark, bears may be trying to checkmate bulls’ strength. That way, a size-able bearish candlestick needs to form. On the contrary, buyers may take a short breath to push sustainably beyond the previous high in the next trading cycles during a volatile price move.

XRP/BTC Price Analysis
Comparing price-moves of XRP with BTC, the counter-crypto is gradually losing weight to the base-crypto. A bullish candlestick has occurred and, it is expected to lead to crossing of the 50-day SMA trend-line by the 14-day SMA’s from the below to the north. Therefore, a bullish trend will form in favor of the base crypto. The Stochastic Oscillators are pointing northbound closer below range 80. That’s a signal that the base-crypto is on the verge of gaining more strength at the expense of the counter-crypto’s weaknesses currently in the market. The base instrument may continue to appreciate in the next trading days’ sessions.

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    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.