XRP Price Prediction For January 6
Bitcoin is currently retesting key areas on its price chart, aiming to turn previous resistance into new support. Ethereum, Chainlink, Solana, and XRP also showed key moves, with XRP rejecting resistance and Chainlink showing bullish divergence. The market is likely to experience further volatility in the short term, but the long-term trend remains bullish.
Ripple’s XRP has gained over 15% in the past seven days and is currently trading at $2.42. The XRP chart has been showing sideways movement and while it is range-bound, it is very interesting at the moment. The price is following key levels well and following the proposed microstructure we have discussed on different time frames.
Although not much has changed on the larger time frame, it is important to understand the micro-movements underway as they may have an impact in the week ahead. These developments could be significant as we may be heading into a fateful week for XRP.
Key levels to watch
XRP performed exactly as expected, Resistance around $2.50 was rejected. This is a key area of resistance that I’ve been warning about for days. Since this bearish divergence occurred on the 4-hour chart, it is unlikely to last for more than a few days. The pullback is likely to continue over the next 1-2 days, but should end in 3-4 days. If we see confirmation of a break above the $2.50 resistance, it would signal a major shift in trend.
In the near future, the price is expected to continue reacting to bearish divergences, leading to rejection of resistance levels. Key support levels to watch are $2.32, $2.22, and $2.13-$2.14. The lower limit of the descending channel is around $1.83, which is another important support level.
