TL;DR Breakdown
- Ripple price prediction expects still expects a fall.
- Strong resistance lies at the $0.26 mark.
- Strong support lies at the $0.215 mark.
The Ripple price prediction by Vince Prince suggests that the cryptocurrency is currently testing a strong resistance zone and the price should turn bearish from here and move towards the $0.127 mark. The XRP price rests near the $0.23 level on the 4th of January after its spike across the $0.26 mark in the second quarter of the 24-hour trade.
1-Day Ripple price analysis
The cryptocurrency was priced at $0.227 at the time of writing. The highest price achieved by Ripple on the 4th of January was the $0.262 mark, whereas it observed a low of $0.216 just before noon. On the 3rd of January, the XRP price observed a continuous, gradual uptrend until it moved above the $0.23 mark.
The oscillators show that the cryptocurrency is under a sell signal, where eight out of the eleven oscillators are neutral while two are under a selling influence and one is at a buying signal.
Fourteen out of the Moving Averages are at a sell signal while two of them are at a buy signal. This means that the technicals suggest that Ripple XRP is at a selling position as it stands bearish.
The Relative Strength Index (RSI) has been traveling close to the oversold region from the 23rd of December, while it was 33.70 at the time of writing. The lower Bollinger band is acting as support for the XRP price while the midline lies as the resistance, this suggests a bearish move ahead.
The Moving Average Convergence Divergence (MACD) line moves at a flat curve with the signal line in the negative region. The histogram size is decreasing in the negative region on the 1D time frame. This shows that the cryptocurrency might be under a bullish bias on the 1D time frame.
Ripple price prediction: What’s next?
Vince Prince’s Ripple price prediction indicates that the cryptocurrency is headed towards the lower support that’s located at the $0.127 mark.
The XRP price appears to be testing a strong resistance cluster that is formed by multiple Exponential Moving Averages (EMA) along with a horizontal resistance level at the $0.241 mark.
Per the Ripple price prediction, the cryptocurrency should see increased rejection near this horizontal resistance due to the heavy resistance cluster formed here. The price is expected to turn bearish after exhausting its bulls from the continued testing. The idea also shows the last support at the bottom which is extremely important for XRP to hold and it lies at $0.1105.
The first target price for the cryptocurrency lies at the $0.127 support, which is expected to be followed by a price bounce and then a move towards the upside. The trading volume has greatly decreased per the chart, while it was at its highest in Q4 2020.
The analyst also added that the trading pair is currently below the point of control which is serving as an important support and resistance level. The asset is also below the important EMAs found in the trading zone, and these technicals are also acting as the resistance levels.
