TL;DR Breakdown
- Ripple price prediction expects a fall to $0.25.
- Strong resistance lies at the $0.33 mark.
- Strong support currently lies at the $0.30 mark.
The Ripple price prediction by Nagiha Toum shows that the cryptocurrency is going to fall after a short-position comes into play. Per the analyst, the altcoin will move towards the $0.25 mark before it can see any breakouts towards the upside. On the 9th of January, the XRP price observed an ascending slope and rose above the $0.325 level.
1-Day Ripple price analysis
The XRP price has been under an uptrend for the 9th of January, and the cryptocurrency has risen past the $0.325 mark. At the time of writing, the XRPUSD pair traded at $0.328, and the highest price approached by the cryptocurrency was $0.332, whereas the lowest mark hit was $0.305. The altcoin has recently recovered from a major bearish trend where it had fallen to $0.22. Bitcoin BTC‘s price surge that began on the 7th of January allowed the crypto market to change directions as most altcoins climbed the charts.
The technicals indicate a sell signal as 2 out of 9 oscillators stand in the sell position. The moving averages indicate a neutral market for the XRPUSD trading pair. Ten out of twenty-eight technicals show that Ripple is buying, while nine lean to a selling indication.
The XRP price is above the Bollinger bands’ midline on the 4h time frame, and it seems to be heading downwards. If the XRP price crosses below the midline, the cryptocurrency will have $0.23 as its short-term target.
Ripple price predictions: What to expect?
Nagiha Toum’s Ripple price prediction shows a falling wedge pattern on the 4h time frame, and the analyst is of the opinion that the cryptocurrency will move short towards the $0.25 mark next.
The analyst explained that the price was rejected near the $0.367 resistance, and the falling wedge should eventually break up. This means that the cryptocurrency will see an uptrend even after falling to the bottom of the wedge. The coin has seen major price fallings over the past few weeks, and it is currently testing the upper boundary of the falling wedge. The target price for this Ripple price prediction is at the $0.68 mark.
The Relative Strength Index (RSI) may see a divergence towards the downside from here as it is testing a major ascending trend line. The coin recently returned from the overbought region. Currently, the RSI lies in the neutral region, and if the XRP price breaks to the downside, the technical indicator will dump towards the bottom. The key resistance that XRP has to test lies above the $0.68 level, which was last tested during mid-November 2020.
Analyst Lars Forex explained in their Ripple price prediction that the cryptocurrency is near a bounce-off stage, after which it will move into a major ascending trend, which will continue until the price reaches the $12 mark in the long-term trade. Per the analyst, the cryptocurrency has recently made its way out of a falling wedge, and the bounce should occur on a 6-year long ascending trend line.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
