Ripple price prediction: XRP rejecting further upside at $0.31

Saturday 23 January 2021, 3:16 AM AEST - 1 month ago

Ripple Price Prediction 22.01.Ripple price prediction: XRP rejecting further upside at $0.31 19

TL;DR Breakdown

  • XRP briefly tested above $0.31.
  • Ripple continues trading in an ascending triangle.
  • Closest support at $0.26.

Ripple price prediction for today is bearish as the price has rejected further upside. XRP currently trades at $0.30 on Coinbase and looks to reverse back to $0.26 support.

The heat map shows a complete market recovery from what was seen in the morning. Both Bitcoin and Ethereum are now in the green with a gain of 3.3 and 2.6 percent, respectively.

Ripple Price Prediction: XRP to move lower once again?

XRP/USD opened at $0.2586 today after a very slow market movement over the past few days. Ripple is testing the $0.31 resistance once again after several attempts to break above it were unsuccessful during the past weeks. The failed attempts indicated a lack of bullish momentum.

Therefore, for most of the week, XRP/USD continued to move sideways until it found support around the $0.26-$0.27 support area as well as at the several week ascending trend line. The move resulted in another attempt to break higher during the past 24-hours.

Ripple price movement in the last 24 hours

Over the past 24-hours, Ripple has traded in a range of $0.2449 – $0.2803 with a volume of almost $5 billion. Early in the trading session, XRP moved towards the previous resistance of $0.31 with very strong momentum. However, as soon as XRP/USD reached the $0.33 price level, a very clear rejection was made as traders looked to close their longs.

XRP/USD 4-hour chart – Ripple ready to break below $0.26?

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