Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
The market might not have found the overbought zone as the prices of most of the coins keep rising.
XRP/USD
XRP is growing much faster than other coins, going up by 1.56% over the last 24 hours.
On the local chart, the price of XRP has bounced off the support at $0.37 against the declining volume. If the correction continues to the middle of the channel by the end of the day, traders can see the rate near the resistance tomorrow.
On the daily chart, the situation is less positive. The price of XRP has once again made a false breakout of the resistance at $0.3780.
If buyers cannot seize the initiative shortly, the correction may lead to the test of the $0.37 area by the end of the week.
On the weekly time frame, the level of $0.3730 is of high importance for XRP. If the bar closes above it, the rise can continue to the resistance zone around $0.40 by the end of the month.
XRP is trading at $0.3737 at press time.
Source: https://u.today/xrp-price-analysis-for-january-13