TL;DR Breakdown
- Ripple price prediction expects a pull back to $0.13 level.
- Strong resistance is found at the $0.234 mark.
- Strong support is found at the $0.212 mark.
The Ripple price prediction by Vince Prince has shown that the cryptocurrency is due for another descent on the charts until it reaches the key support near the $0.13 level. The cryptocurrency is expected to go long from that point. On the 3rd of January, the cryptocurrency showed sideways movements and it reached the $0.223 level.
1-Day Ripple price analysis
After the announcement of Ripple’s delisting from the Bittrex exchange, Ripple XRP has been on a downtrend over the past 2 days. The cryptocurrency started to see a major decline in the last 10 days of December 2020, where it fell from above the $0.57 mark towards the $0.225 level. The chart depicts a descending move on the 1D time frame where the cryptocurrency’s price trajectory depicted ruffled movements until it hit the $0.218 mark. At the time of writing, XRP was priced at $0.223.
The oscillators show a buy signal for the cryptocurrency while the Moving Averages are still at a strong sell indication. Most oscillators stand neutral, while most Moving Averages stand at a selling point. The overall trend in the market for Ripple is at a selling position right now. The trade volume has also decreased by a lot and it has fallen towards the -22.78% level.
On the 1D time frame, the Moving Average Convergence Divergence (MACD) line appears to be diverging upwards while it stands below the signal line. The histogram size is also decreasing in the negative region. This means that the cryptocurrency has a bullish bias and it might just be returning towards the upside for now.
The Relative Strength Index (RSI) has bottomed near 30, but still stands in the neutral region with a value of 32.49. The XRP price has gathered support above the lower Bollinger band while the midline acts as the resistance. The cryptocurrency might see sideways movements over the next time frame with weaker bulls.
Ripple price prediction: What to expect from the XRP price?
Vince Prince’s chart for the crypto asset shows that the price has been held inside a big falling channel from the last month of 2020. This parallel descending channel also houses an ascending channel that XRP has recently broken out of and the price is expected to make a run towards the downside from here.
At first, the crypto asset fell below a strong triangle pattern after forming a big red candle, where it entered an ascending channel shown in blue on the chart above. The price is expected to fall bearish again and move towards the lower support marked at the $0.136 level. This support is important to hold for XRP as the price will go long from there, and it will also be a good buying position, per the Ripple price prediction.
The price is expected to test and break through the upper boundary of the main channel and then retest the broken trend line until it can accumulate enough volume to rise towards the $0.2342 level, which is where the target price lies for this Ripple price prediction.
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