XRP Price Analysis – January 14

  • The XRP price is in a strong bearish momentum and a sell signal.
  • If the bears break the $0.30 price level, the crypto will find support at the $0.29 or $0.26 price level.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bearish

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.30, $0.28, $0.26

Last week, January 10, the XRP price was in the bearish trend zone, as the bears broke the 12-day EMA and the 26-day EMA. The crypto's price fell to the lows of $0.33 and $0.32 price levels and it commenced a bullish movement. If the crypto's price is still within the bearish trend zone, the XRP price may likely revisit the previous lows of December 15 and September 11.

In the other words, if the bears break the $0.30 price level, the crypto will find support at either $0.29 or $0.26 price level. Traders should initiate long trades if the price falls to the lows of either $0.29 or $0.26 price level. Meanwhile, the stochastic is in the oversold region but below the 20% range. This indicates that the XRP price is in a strong bearish momentum and a sell signal.

XRPUSD Short-term Trend: Bearish

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

On the 4-hour chart, the XRP price is in the bearish trend zone. On January 10, the bears broke the 12-day EMA , the 26-day EMA and the price fell to the low of $0.33. The crypto's price commenced a range bound movement for three day s before being resisted by the 12-day EMA. The XRP price fell again to the low of $0.32.

The crypto's price is making a bullish movement and testing the 12-day EMA. Meanwhile, the stochastic indicator is out of the oversold region but above the 20% range indicating that the XRP price is in a bullish momentum and a buy signal.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.        

Libra Association Members Consider Quitting Due to Government Pressure

Neil Dennis

Three founding members of the Libra Association, the cryptocurrency project announced by Facebook earlier this year, are considering withdrawing from the group following government and regulatory opposition.

A report in the Financial Times on Friday suggested that two - unnamed - members of the Association are discussing their "right next steps". A further member - also unnamed - was reportedly concerned that its support for the project will raise regulatory scrutiny of its own business.

Founding Members

Among the 28 founding members are payments firms PayPal and Visa, internet marketplaces eBay and Booking Holdings, blockchain groups Coinbase and Xapo, and venture capitalists Andreessen Horowitz and Thrive Capital.

One of the partners told the FT:

Some of those conversations [about regulation] should have taken place before the launch, to understand how regulators would think about this, so there wasn’t so much pushback.

The backlash has not just been regulatory. Central banks are concerned about the impact on monetary policy, while governments have an obligation to protect their sovereign currencies. Indeed, such has been the furore over Libra that Facebook admitted on July 31 that the cryptoasset may never be launched.