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XRP Price Analysis for January 21

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Sat, 21/01/2023 - 20:00
XRP Price Analysis for January 21
Cover image via www.tradingview.com

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Buyers remain more powerful than sellers even on the weekend, according to CoinMarketCap's ranking.

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Top 10 coins by CoinMarketCap

XRP/USD

XRP is one of the least-growing coins, rising by 4.50%.

XRP/USD chart by TradingView

On the hourly chart, the price has returned to sideways trading after the false breakout of the support level at $0.4060.

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Currently, traders are unlikely to see sharp moves until the end of the day, which is confirmed by the low volume. In this case, trading in the range of $0.41-$0.412 is the more likely scenario.

XRP/USD chart by TradingView

On the daily chart, the price has made a false breakout of the interim support level at $0.4064. If buyers hold the price above that mark, there is a chance to see an accumulation period in the range of $0.406-$0.41 so the altcoin could get more energy for a further move.

XRP/USD chart by TradingView

On the weekly time frame, one should pay attention to the level at $0.4086. If the bar closes above it with no long wicks, the growth may continue to the zone of $0.42-$0.43 until mid-February.

XRP is trading at $0.40871 at press time.

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