XRP Price Analysis – January 24

  • The crypto will find support at the $0.28 if the bears break the $0.30 price level.
  • The crypto will reach the high of $0.40 if the bulls break above the EMAs and the price sustained above the EMAs.

Ripple, XRPUSD, CryptoCompare chartXRP Chart By Trading View

XRPUSD Medium-term Trend: Ranging

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

On January 10, the bears broke the 12-day EMA, the 26-day EMA and the price fell to the low of $0.33. For over two weeks, the bulls have not been able to break above the EMAs, as the crypto fluctuates in a tight range. The XRP price had been testing new lows as the price ranges. Today, the bears are testing the $31 price level as an indication of an imminent price fall.

Nevertheless, on the downside, if the bears break the $30 price level, the crypto will as well find support at the $0.28 price level. On the upside, the crypto will reach the high of $0.40, if the bulls break above the exponential moving averages and the price sustained above the EMAs.

Meanwhile, the stochastic is in the oversold region below the 20% range which indicates that the crypto is in a strong bearish momentum and a sell signal.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSD, CryptoCompare chartXRP Chart By Trading View

On the 4-hour chart, the XRP price is in the bearish trend zone. The crypto’s price is below the EMAs and it fluctuates in a tight range between the levels of $0.31 and $0.33. Since the crypto’s price is below the EMAs, there is a likelihood of the price falling. Meanwhile, the stochastic indicator is below the 60% range which indicates that the crypto is in a bearish momentum and a sell signal.

 

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