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XRP/USD Fails to Break Out Above $0.30; Price Down with 6% Loses


XRP Price Prediction – January 15

XRP/USD has been trading sideways for the past week as it seems that bulls can’t push its price above $0.30.

XRP/USD Market

Key Levels:

Resistance levels: $0.45, $0.50, $0.55

Support levels: $0.15, $0.10, $0.05

XRPUSD – Daily Chart

Earlier today, XRP/USD touches the daily high of $0.30 before giving a bearish signal at the time of writing, the coin is seen floating within the 9-day and 21-day moving averages as the technical indicator RSI (14) moves below 45-level. Meanwhile, a break below the channel could give the market enough strength to dig dip, but crossing above the moving averages might lead the market to a bullish scenario.

What to Expect from Ripple (XRP)

At the moment, the Ripple price keeps demonstrating a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 6.01%, 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 the beginning of this year.

Therefore, if XRP/USD moves bullishly on the long-term outlook, traders may expect the trend to keep advancing higher if the price actions still remain inside the channel. A breakout above the upper boundary of the channel could strengthen bulls and push the market price to the resistance levels of $0.45, $0.50, and $0.55. On the other hand, a breakdown towards the south might lead the market in a bearish scenario if the price continues to fades and the closest supports are located at $0.15, $0.10, and critically $0.05.

Against BTC, XRP has remained intact within the channel. The Ripple price may likely create a new monthly low if the selling pressure continues. At the moment, the signal line of RSI (14) is seen moving in the same direction around the 32-level; traders could see a negative move if XRP crosses into the oversold region.

XRPBTC – Daily Chart

However, XRP/BTC is currently moving at 763 SAT. We may expect close support at the 500 SAT before breaking to 145 SAT and below. Should in case a bullish movement occurs and validates a break above the moving averages; a bull-run can be confirmed for the market and the nearest resistance levels could be found at 1400 SAT and above.



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