TL;DR Breakdown
- Ripple price prediction expects a rise towards $0.5.
- Strong resistance currently lies at the $0.298 mark.
- Strong support currently lies at the $0.275 mark.
Strictly’s Ripple price prediction suggests that cryptocurrency will rise across the $0.5 mark if the XRP price keeps trading inside the Ichimoku cloud highlighted in the idea. On the 17th of January, the XRP price moved towards the $0.275 level after continuing the bearish momentum from the 16th of January.
1-Day Ripple price analysis
The cryptocurrency spiked above the $0.296 level at noon on the 16th of January, soon after the altcoin entered a continuous downtrend. The price bottomed near the $0.275 level by the 17th of January, and at the time of writing, XRP is priced at $0.276. The lowest price that the altcoin approached was $0.275, while the highest was the $0.285 mark on the 17th of January.
The technicals show 13 in the selling position while ten stand neutral and five are in the buying position. We have two indicating a buy signal across the oscillators, and nine show a neutral trading pair. The moving averages showed that the cryptocurrency is at a strong sell, with 13 in favor of a sell indication, one neutral, and one for a buy indication.
On the 4h time frame, the lower Bollinger band is acting as support for the XRP/USD pair. This shows that the cryptocurrency is currently bearish with more red candles bearish candlesticks on the chart. XRP price should see more bearish displacement on the shorter time frames.
Ripple price prediction: What’s next?
The Trading View analyst Strictly believes that the cryptocurrency is in a huge ascending channel and the coin currently trades near the bottom of the main channel. The analyst used a weekly Ichimoku cloud to show that the XRP price might rise on this Ripple price prediction’s relative time frame.
Per the analyst, once the weekly candle ends, the cryptocurrency should stay inside the Ichimoku cloud getting support from the bottom of the main channel at around $0.23 levels. The Ripple price prediction shows that the cryptocurrency will break through the specific plateau highlighted (green) by the crypto analyst. This plateau is important for the stablecoin as it opens the door to moving higher for the coin. However, if the price drops below this key trend line, it could get ugly for the XRP price. But if it manages to break towards the upside and moves above the plateau on the weekly time frame, the next target lies above the $0.55 range.
Analyst Vince Prince believes that the cryptocurrency completed a head and shoulder pattern, and the analyst expected the price to fall towards the $0.275 range, and the fall took place on the 17th of December. The altcoin’s H&S targets had already been reached on the 15th of January, while the second price rejection was completed on the 17th of January.
Per the Ripple price prediction, the cryptocurrency will look for a bounce-back towards the descending resistance line near the $0.285 to $0.29 range, once the cryptocurrency retests this resistance, the analyst expects the price to see a bullish continuation across the resistance and move towards the $0.295 level.
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