Ripple Price Prediction – January 16
The Ripple price prediction continues to battle with the $0.80 level after being supported by the 9-day moving average.
XRP/USD Market
Key Levels:
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.65, $0.60, $0.55
At the time of writing, XRP/USD is seen trading at $0.77 around the 9-day moving average. The cryptocurrency is currently moving sideways as it continues to struggle to cross above the 21-day moving average. More so, the attempt to push the coin to the upside shows that the bulls are battling to be in control of the market momentum.
Ripple Price Prediction: Would Ripple Go Up or Down?
From above, the nearest level of resistance lies at the $0.80 resistance level. Any additional movement above this could reach the important resistance level at the $0.85. If the Ripple price can break above this level, higher resistance could be located at $0.90, $0.95, and $1.00. Meanwhile, if the price decides to cross below the 9-daymoving average, the nearest support to reach is located at $0.70 level. Beneath this, further supports could be located at $0.65, $0.60, and $0.55.
However, the technical indicator Relative Strength Index (14) is currently moving above 40-level as traders wait for a bullish crossover to push the market higher. More so, the coin may stay within the negative side in as much as the 9-day MA remains below the 21-day MA.
Against Bitcoin, XRP has been struggling to hold grounds above the 9-day and 21-day moving averages as it currently trades at around 1803 SAT. Mere looking at it from above, the nearest resistance level lies above the moving averages. However, if the buyers push the Ripple (XRP) above 1850 SAT, the higher resistance level will be located at 1900 SAT and above.
Moreover, the market price may likely cross below the moving averages to give bearish signal, if the coin nosedives toward the lower boundary of the channel, this can lead to the support level of 1700 SAT and below. Meanwhile, the market may continue to move sideways as the technical indicator Relative Strength Index (14) remains above the 50-level.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
