Prediction of Ripple price - January 6

Ripple's price prediction shows that XRP has fallen by 3.05% over the past few hours, as the market value drops below $0.80.

Market XRP/USD

Key Levels:

Resistance levels: $0.90 - $0.95 - $1.00

Support levels: $0.60, $0.55, $0.50

The XRP/USD bearish signal is currently being sent as the coin falls below its opening price of $0.77. Relative Strength Index (14), a technical indicator, continues to move towards the oversold area. A break below the lower boundary of this channel could lead to another low. However, if the market price crosses the 9-day or 21-day moving averages, then a bullish scenario might emerge.

Ripple Price Prediction: The Price may Continue with the Downside

The Ripple price continues its downward trend across all markets. The daily chart shows that XRP/USD is down by 3.05%. This indicates a market price drop and could become severe if bearish activity continues. Ripple is currently moving bearishly and traders can expect it to continue to fall below its moving averages.

A break above the moving averages may strengthen the bulls. It could push the price up to $0.90, $0.95 and $1.00. Or, a market breakdown could lead to a bearish scenario. If the price continues to fall, it may reach the support levels at $0.60, $0.55 and $0.50.

Comparing with Bitcoin, Ripple's price is still below the 9-day & 21-day moving averages. If the selling pressure continues, XRP may see a new low. The technical indicator Relative strength Index (14) is unlikely to cross below 40-level at the moment. As the coin moves towards the lower border of the channel, the market could see another negative move in.

The Ripple (XRP), however, is hovering around 1745 SAT. If the coin crosses below this channel, traders might expect support at 1600 SAT or below. If a bullish move occurs and breaks above the 9-day MAs and 21-day MAs, traders can confirm a bull-run in the market. The nearest resistance level is at 1950 SAT.

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By: Azeez Mustapha
Title: Ripple Price Prediction: XRP/USD Stays Below $0.80
Sourced From: insidebitcoins.com/news/ripple-price-prediction-xrp-usd-stays-below-0-80
Published Date: Thu, 06 Jan 2022 12:54:40 +0000