XRP Price Prediction For January 8
Ripple’s XRP has dropped back to fourth place after erasing nearly 3% gains over the past 24 hours. The price is currently struggling to stay above the $2.30 mark, and if the price breaks below key support levels, especially $2.24, it could signal a change in the market structure.
The current range has shown key phases such as auto-bounces, secondary tests, and now the spring phase, with XRP targeting a breakout. This pattern has been observed in other charts before, such as Binance Coin’s price action in 2023. We are essentially waiting for an eventual breakout of the current range, which may happen soon.
The accumulation phase that began in early December appears to be coming to an end. While the breakout may take some time to fully unfold, the range is nearly complete and the next move appears to be to the upside.
Support levels worth paying attention to
key support level The observed values are $2.23, $2.21, $2.17, $2.29 and $2.24 respectively. These areas should be monitored for signs of reversal, but a clear breakout of specific levels would confirm further bullish moves.
Breakout Signals and Market Outlook
A break above the 50% Fibonacci level at $2.35 would mark the end of the current downward trend and could mark the beginning of an upward move. XRP is known to react quickly to such breakouts, so traders should remain vigilant.
patience game
After more than a month of range-bound trading, the end appears to be near. Whether you view this as a Wyckoff accumulation pattern or simply a series of tests and rallies, the final stages are underway. The next upward movement may be triggered by a catalyst or flush.
