XRP Price Prediction – January 1
XRP’s market-worth as traded against the valuation of the US Dollar has been under selling pressures since the crypto couldn’t swing northward past a resistance level at $0.80
Resistance levels: $0.40, $0.50, $0.60
Support levels: $0.15, $0.10, $0.05
XRPUSD – Daily Chart
The market-valuation of XRP/USD has subjected to a series of significant decreases throughout trading sessions. On Dec. 4, a bearish candlestick formed as a confirmation sign against the 14-day SMA smaller trend-line below $0.70 point. Meanwhile, the 50-day SMA trend-line has been intercepted by the smaller SMA trend-line from the top. That firmly signifies the current bearish pressures in the market.
Where is XRP Price Going Next?
There has been no visible indication that the XRP/USD bulls will quickly reverse against the present bearish pressures it’s been facing for quite a while. The downward pressures still appear not to have been completely exhausted. Nevertheless, traders need to be wary of their entries around the current trading level at $0.20 to avoid being trapped by the market.
At this point in the trading line, it is ideally technical that investors may consider coming into the crypto-trade. Likewise, traders may as well reposition their stands to be on the lookout for any possible bearish reversal sign around the $0.20 as the crypto-market may use the next $0.15 line to find support.
XRP/BTC Price Analysis
Comparing the XRPBTC trade with the XRP/USD market, there’s more slight selling pressure in the crypto-market of the former pair than the latter. The Smaller SMA trading indicator showcases that on the chart. As a result of that, the XRP/BTC trade operations may have to witness trading a new lowest value ever as it averages B0.000005.
Remember, all trading carries risk. Past performance is no guarantee of future results.
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