XRP Price Analysis – January 20
The Ripple (XRP) slipped tremendously with the entire market crashing down as the price moves below the moving average.
Resistance levels: $0.260, $0.270, $0.280
Support levels: $0.200, $0.190, $0.180
XRP/USD bears have remained active since the Asian session today. A flash drop that occurred yesterday smashed through the support level at $0.250 and tested $0.226 but the recovery from the dip stalled at $0.235. Today, the continued selling activity is till pushing Ripple under $0.233. Short-Term support is being established at $0.232 and is likely to stop the losses because the signal lines of MACD have already crossed to the positive side.
As of now, the price is bearish but a bounce back to $0.260, $0.270 and $0.280 resistance levels may once again give strength to the $0.240 support. If this support gets weak, a price break-down may occur as the bears may continue to find a new monthly low at $0.200, $0.190 and $0.180 support levels. In the long run, XRP/USD still remains in a dominant uptrend.
Against Bitcoin, the Ripple (XRP) moves in sideways as the price trades above the 9-day and 21-day moving averages. Now, the bears are gaining control of the market, any attempt to break below the channel, we can expect the price-fall to 2600 SAT and further support level lies at 2500 SAT and below. But at the moment, XRP/BTC hovers around 2685 SAT.
However, if the buyers could put more effort and continue to push the price above the moving averages which may likely take it to the upper boundary of the channel, the next level of resistance is located at 2800 SAT and further resistance is found at 2900 SAT and 3000 SAT respectively. The RSI (14) is above level 50 with the signal line moving in the same direction.
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