Ripple Price Prediction: XRP/USD Consolidates as Price Drops Below $0.30 Support

XRP Price Prediction – January 26

Ripple (XRP) is down by 0.14% in the last 24 hours as the value has gone below $0.27.

XRP/USD Market

Key Levels:

Resistance levels: $0.32, $0.34, $0.36

Support levels: $0.21, $0.19, $0.17

XRPUSD – Daily Chart

Earlier today, XRP/USD touches the daily high of $0.27 before giving a bearish signal at the time of writing, the coin is also floating below the 9-day and 21-day moving averages as the technical indicator RSI (14) moves above 45-level. More so, a break below the lower boundary of the channel could give the market enough strength to dig dip, but moving towards the north might lead the market to a bullish scenario.

What to Expect from Ripple 9XRP)

Looking at the daily chart, XRP/USD has continued to demonstrate a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 0.14%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Meanwhile, the Ripple (XRP) has been consolidating within the channel since January 12.

However, if the Ripple price moves bullishly on a short-term outlook, traders may expect the trend to keep advancing higher if the price actions still remain inside the channel. A breakout above the moving averages could strengthen bulls and push the market price to the resistance levels of $0.32, $0.34, and $0.36, or a channel breakdown might lead the market in a bearish scenario if the price continues to fades and the closest supports to keep an eye on are $0.21, $0.19, and critically $0.17.

Against BTC, XRP continues to move sideways within the symmetric triangle. If the selling pressure plays out, the Ripple price could drop below the 9-day and 21-day moving averages. At the moment, the signal line of RSI (14) is seen moving in the same direction around the 40-level; traders could see a negative move if XRP crosses below the lower boundary of the channel.

XRPBTC – Daily Chart

As the daily chart reveals, XRP/BTC is currently moving at 829 SAT. Traders may expect close support at the 700 SAT before breaking to 500 SAT and below. Should in case a bullish movement occurs and validates a break above the upper boundary of the channel; a bull-run can be confirmed for the market and the nearest resistance levels could be found at 1150 SAT and above.

Remember, all trading carries risk. Past performance is no guarantee of future results.

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.