XRP Price Analysis – January 17

  • The crypto will rally at the $0.40 price level if we have more buyers at the $0.33 price level,
  •  If we have more selling at the $0.33 price level, the bears will take price down to the $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

The XRP price is in the bearish trend zone as the price is range bound at the $0.33 price level. As the crypto's price is ranging, the exponential moving averages are trending southward. The crypto's price has been stable in the last few days because of the indecision of buyers and sellers at the $0.33 price level.

From the price action, the crypto's price is below the 12-day EMA and the 26-day EMA which indicates that the XRP price is likely to fall. As the crypto's price ranges, a price breakout is imminent. However, if we have more selling at the $0.33 price level, the bears will take  price down to the $0.26 price level. On the other hand, if we have more buying at the $0.33 price level, the crypto will rally at the $0.40 price level.

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. From the chart, the 12-day EMA  and the 26-day EMA are trending horizontally. In the last six days, the crypto's price is closing at the $0.33 price level indicating the horizontal movement. The crypto's price is below the 12-day EMA and the 26-day EMA indicating that the price is in the bearish trend zone.

The stochastic indicator is below the 50% range which indicates that the crypto is in a bearish momentum and a sell signal.

 

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