The daily chart reveals that the Ripple price is range-bound as bulls fail to move the cryptocurrency to a new height.
Resistance levels: $0.50, $0.55, $0.60
Support levels: $0.15, $0.10, $0.005
According to the daily chart, XRP/USD is trading above the 9-day and the 21-day moving averages, the coin is also floating within the middle of the channel as the RSI (14) indicator moves in the same direction below the 50-level. The daily breakdown shows that the intraday support and resistance lie between $0.28 and $0.30 respectively.
What to Expect from Ripple (XRP)
Moreover, the Ripple price continues to demonstrate a sign of weakness across its markets. But on the other hand, the coin is up with 3.66% gains, reflecting a price rise in the market trading above the 9-day and 21-day moving average and the rise might become heavy if the bullish action continues. Meanwhile, around six days ago, the fourth largest-cryptocurrency has witnessed a bullish drive against the USD.
However, since the XRP/USD is moving in sideways, the trend may likely advance higher if the current price holds and remain above the moving averages. A channel breakout could strengthen the bulls and push the price to the resistance levels of $0.50, $0.55, and $0.60 whereas a break below the moving averages might lead the market in a bearish scenario if the price continues to fades, it may likely reach the closest supports at $0.15, $0.10, and critically $0.005.
When compares with Bitcoin, the Ripple price is currently consolidating within the 9-day and 21-day moving averages. However, if the bulls could energize and push the price above the moving averages, the bullish continuation may likely take it to the resistance levels of 1500 SAT and above.
According to the daily chart, if the bulls failed to hold the price, then the market price may likely fall below the lower boundary of the channel and the nearest support levels for the coin are located at 100 SAT and below. Meanwhile, the RSI (14) continues to move below 35-level, which indicates a sideways movement.
Analysts predict a major upside swing for major altcoins as BTC dominance decreases
Altcoins could be marching towards a bull run as Bitcoin (BTC) looks to stabilise above $30,000. The bullish outlook for altcoins is likely given most of the top 20 alts remain grounded, even after Bitcoin’s recent dumps.
Ethereum (ETH) has, for instance, bounced above $1,000 and could target a new all-time high (ATH) well above the previous ATH of $1,432. Ripple (XRP) on the other hand continues to hold near $0.30 after struggling through a period of intense sell-off pressure. Elsewhere, major alts like Stellar (XLM), Cardano (ADA) and Litecoin (LTC) are all looking strong.
Among the DeFi tokens, Synthetix (SYN), Aave (AAVE), Maker (MKR) and Compound (COMP) have surged double-digits in the past 24 hours on strong upward volumes.
As altcoins prepare for a major bull run, BTC dominance is shrinking after hitting resistance. The weekly RSI as well as MACD suggest a bearish divergence. If Bitcoin price goes sideways, pumping the alts might push the altcoin market cap to highs of $550 billion.
According to crypto analyst Michael van de Poppe, the bounce will happen if the market cap holds the main support level near $200 billion.
“The altcoin market capitalisation is looking super bright here. Currently, we should be resting on the $200 billion areas for support. As long as that holds, the next altcoin run will bring the market towards $440 and $550 billion.”
The main resistance is at the 161.8% Fibonacci retracement level of the previous move from $120 billion low to $362 billion high. That hurdle is around $319 billion, a pivotal level if alts have to maintain the upside action.
An impulse wave from these positions could see the altcoin index jump to the 261.8% Fib level around $439 billion.
Apart from the coins we highlighted above, another one to watch is ICON (ICX). According to the analyst: “Icon is still looking great here as it’s been making higher highs and higher lows. The critical support at $0.30/0.35 held and therefore continuation is likely to be expected. New impulse wave targets are $1—1.20 and $1.60—1.80, probably during the upcoming alt season“.
At the time of penning down this prediction, XRP/USD is seen trading at $0.283. Meanwhile, the market price lacks imminent support and may trade in the red with dense selling pressure.
Resistance levels: $0.50, $0.52, $0.54
Support levels: $0.12, $0.10, $0.08
XRP/USD price is seen correcting downwards after having hit the resistance at $0.369 yesterday. The king of the cryptocurrencies (Bitcoin) is also seen trading below $31,000 and has an impact on the overall trading volume and market cap as well. At the moment, the Ripple price is exhibiting an intraday dip and bearish move, alongside, lack of support.
Where is XRP Price Going Next?
The daily chart reveals that the coin is seen correcting downwards after starting the day at $0.315. The bulls couldn’t push XRP/USD higher to hit the nearest resistance, the coin is moving towards the major support at $0.250. In addition, once the coin rightly gains the required momentum, it may likely bounce back and retest the formed resistance.
At the moment, the technical indicator RSI (14) faces the south with its signal lines moving below 45-level. Meanwhile, should the bulls prevail over the bears by moving the price back to $0.40, therefore, XRP/USD pair may rally towards the resistance levels of $0.50, $0.52, and $0.54 respectively. If the bears continue to push the price below the 9-day and 21-day moving averages; the price could find its low at the support levels of $0.12, $0.10, and $0.08 respectively.
Against Bitcoin, for a few days now, Ripple (XRP) has been following the sideways movement around the moving averages but today, the bulls are trying to step back into the market as they are trying to maintain an upward movement above the 9-day moving average. Traders may expect the price-rise to 1500 SAT and above should the price cross above the 21-day MA.
However, if the sellers continue to push the price below the lower boundary of the channel, the next support level is located at 300 SAT and further support is found at 100 SAT and below. Meanwhile, the RSI (14) is moving around the 34-level, which may likely cause the coin to range-bound.
XRP Price Prediction – January 10 XRP market-worth hasn’t been able to put-off under selling pressures inflicted on it by the US-economy over some trading days’ sessions. However, indications show that the crypto is preparing to garner some muscles to stage a come-back.
XRPUSD – Daily Chart XRP/USD chart depicts that the crypto-instrument has in the long-run building up from a support level of around $0.20. The 14-day SMA trend-line is between the $0.20 and $0.30 market lines and, the price has breached it northward to signal the possibility of getting to see a resumption of a bullish trend in the near time. The 50-day SMA is located over the market’s value trading point to clarify that the crypto has been far from being under selling pressure. The Stochastic Oscillators have somewhat traveled northbound closer to range 80. And, they seemingly appear to start a consolidation move around it in the near time. What is going to be the XRP/USD’s next formation pattern? Going by what the current technical outlook reads, the crypto-pair possesses the potential of witnessing a level of sideway moves in its value around the $0.40 price zone. If that stays long, either a breakout or a breakdown will surface before determining the next trend of the crypto-market. Any attempt that bears make to push the crypto’s worth southward may feature at a touch of a high level below $0.50. Failure to turn down the presumed upward move at that price level; could be a confirmation signaling an end for the current XRP/USD’s price-downward forces. In, all in all, the crypto-pair is still in one of the best investing sessions that investors may consider joining now under the $0.40 value. XRP/BTC Price Analysis Comparing the trade-worth of XRP with BTC, the base-cryptocurrency still wallows under falling forces. The XRP’s price now trades around the 14-day SMA trend-line at a low point. There has been no sign of trading above the smaller SMA’s trend-line as of writing. While that trading outlook continues, it means the crypto-pair will move in range underneath a resistance value of B0.000015 for some days’ trading sessions. However, a forceful-upward breakout of the level mentioned will decently suggest a strong strength return of the base-trading tool..