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Bulls are trying to keep the rise going despite bears’ pressure.
XRP remains in the green zone, going up by 1.16%.
On the local chart, the price of XRP has bounced off the support at $0.38518 and is currently trading near the resistance at $0.39364. There are low chances to see further growth today as the altcoin has passed most of its daily ATR.
In this case, sideways trading in the range of $0.391-$0.394 is the more likely scenario.
On the daily chart, neither bulls nor bears have accumulated enough strength for a further move. However, one should pay attention to the crucial level of $0.40. If the candle closes near it with no long wicks, there is a chance to see the breakout of the resistance of $0.40860 soon.
On the daily chart against Bitcoin (BTC), the situation remains bearish as the price remains trading near the support at 0.00001809. If buyers want to seize the initiative and get back in the game, they need to restore the rate above the resistance of 0.00001926. Only in that case can the midterm growth be restored.
XRP is trading at $0.3928 at press time.
#XRP #Price #Analysis #January