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Ripple price analysis: XRP hints at a massive breakout to $0.40

Ripple price analysis: XRP hints at a massive breakout to $0.40

Ripple (XRP) could break above $0.30 and rally higher, with bulls likely to target $0.40 in the next wave

XRP has traded sideways for the last few days, with its lack of meaningful upside action allowing Polkadot (DOT) to overtake it as the fourth-largest cryptocurrency by market cap.

Ripple’s underperformance since the SEC filed a lawsuit against the company and its top executives meant that it was always likely that its position would be taken by top performers like DOT.

However, Ripple may be back in the top three if its price breaks out of consolidation and moves towards retesting the 50-day simple moving average on the daily chart. If this happens, XRP could then rally to new year-to-date highs.

At the time of writing, Ripple’s native token is up by 3.2% and is trading around $0.28.

Ripple price

The 4-hour chart shows that buying pressure is increasing, with the Relative Strength Index (RSI) suggesting a positive divergence above the 50 line.

XRP/USD 4-hour chart. Source: TradingView

The MACD is also suggesting a hidden bullish flip, with the shorter 12-day curve hinting at crossing above the 26-day EMA curve. If the indicator strengthens in coming sessions, expect the momentum to turn bulls’ way, with XRP then trading higher.

The chart also shows that XRP is also trading above the 100-day simple moving average. If buyers sustain the upside momentum and crack resistance at the 50-SMA on the 4-hour chart ($0.29), extended action above $0.30 could see XRP/USD squeeze off its sideways range.

The daily chart presents two targets above the $0.30 price level that could be pivotal in XRP’s short term price action. The first one is a horizontal resistance line just above $0.32. Previous attempts to break higher have run to a halt at this level.

If bulls manage to turn this barrier into support, having higher daily candlesticks will offer the cushion buyers might need as they target the 100-day simple moving average at $0.36.

XRP/USD daily chart. Source: TradingView

The technical outlook for XRP also suggests a potential buy signal on the daily chart. If the signal flashes in the form of a red nine candlestick in the next session, an influx of buyers on surging volumes will likely propel XRP/USD higher.

That means breaking above $0.36 has the prospect of catalysing further upside action. If this happens, XRP could retest resistance at the 50-day SMA ($0.40).

The flipside of the above bullish picture will be a dip to initial support at $0.25. if bearish pressure increases around these price levels, it could mean a further retreat to the long term support zone near $0.20.

Source

Ripple Price Prediction: XRP/USD Fails to Break Out Above $0.30; Price Down with 6% Loses

Ripple Price Prediction: XRP/USD Fails to Break Out Above $0.30; Price Down with 6% Loses

XRP Price Prediction – January 15

XRP/USD has been trading sideways for the past week as it seems that bulls can’t push its price above $0.30.

XRP/USD Market

Key Levels:

Resistance levels: $0.45, $0.50, $0.55

Support levels: $0.15, $0.10, $0.05

XRPUSD – Daily Chart

Earlier today, XRP/USD touches the daily high of $0.30 before giving a bearish signal at the time of writing, the coin is seen floating within the 9-day and 21-day moving averages as the technical indicator RSI (14) moves below 45-level. Meanwhile, a break below the channel could give the market enough strength to dig dip, but crossing above the moving averages might lead the market to a bullish scenario.

What to Expect from Ripple (XRP)

At the moment, the Ripple price keeps demonstrating a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 6.01%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. Meanwhile, the Ripple (XRP) has been consolidating within the channel since the beginning of this year.

Therefore, if XRP/USD moves bullishly on the long-term outlook, traders may expect the trend to keep advancing higher if the price actions still remain inside the channel. A breakout above the upper boundary of the channel could strengthen bulls and push the market price to the resistance levels of $0.45, $0.50, and $0.55. On the other hand, a breakdown towards the south might lead the market in a bearish scenario if the price continues to fades and the closest supports are located at $0.15, $0.10, and critically $0.05.

Against BTC, XRP has remained intact within the channel. The Ripple price may likely create a new monthly low if the selling pressure continues. At the moment, the signal line of RSI (14) is seen moving in the same direction around the 32-level; traders could see a negative move if XRP crosses into the oversold region.

XRPBTC – Daily Chart

However, XRP/BTC is currently moving at 763 SAT. We may expect close support at the 500 SAT before breaking to 145 SAT and below. Should in case a bullish movement occurs and validates a break above the moving averages; a bull-run can be confirmed for the market and the nearest resistance levels could be found at 1400 SAT and above.

Source