Ripple Price Prediction – January 6
The Ripple price prediction reveals that XRP is down by 3.05% in the last few hours as the current market value drops below $0.80.
XRP/USD Market
Key Levels:
Resistance levels: $0.90, $0.95, $1.00
Support levels: $0.60, $0.55, $0.50
XRP/USD is currently giving a bearish signal as the coin heads below the opening price of $0.77. The technical indicator Relative Strength Index (14) keeps moving towards the oversold region and a break below lower boundary of the channel could move the coin to another low, but if the market price crosses above the 9-day and 21-day moving averages, a bullish scenario may come to play.
Ripple Price Prediction: Price May Continue with the Downside
Now, the Ripple price continues to demonstrate a sign of weakness across its markets. Looking at the daily chart, XRP/USD market is down by 3.05%, reflecting a price drop in the market and the fall might become heavy if the bearish action continues. At the moment, the Ripple price is moving bearishly, traders can expect the coin to continue to head lower below the moving averages.
Meanwhile, a break above the moving averages could strengthen the bulls and may push the price to the resistance levels of $0.90, $0.95, and $1.00, or a breakdown might lead the market in a bearish scenario if the price continues to fade, the price may likely reach the supports at $0.60, $0.55, and $0.50.
When compares with Bitcoin, the Ripple price remains below the 9-day and 21-day moving averages and if the selling pressure continues, the XRP price may create another low. At the moment, the technical indicator Relative Strength Index (14) is likely to cross below 40-level; the market may continue to see a negative move in as much as the coin continues to move towards the lower boundary of the channel.
However, the Ripple (XRP) is currently hovering at 1745 SAT and if the coin crosses below the channel, traders may expect close support at 1600 SAT and below. Therefore, should in case a bullish movement occurs and break above the 9-day and 21-day MAs; traders can then confirm a bull-run for the market and the nearest resistance level lies at 1950 SAT and above.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
