XRP Price Prediction For January 17
XRP has broken out to new yearly highs, but has since retreated slightly. We are currently testing previous highs, with the market hovering around the 2017-2018 high of $3.28. Although the price did not break out consistently, the trend remains positive and Bitcoin continues to move higher.
Fibonacci Extension Levels:
XRP’s Next Key Fibonacci Level It’s about $4.20 and $5. These levels are based on Fibonacci extensions of the initial price movement. The $5 level is especially important as it is part of a larger pattern and tends to have more significance in this context. The $4.20 level, while still relevant, may not be as strong. If XRP continues its upward trajectory, these goals may be tested in the near future.
Short term price action:
From a short-term perspective, the overall upward trend remains intact. Key support areas have remained between $2.52 and $2.94. The price is showing higher lows and lower highs, which indicates that the bullish structure is intact. Several triangle breakouts were observed during this consolidation phase, and these often resulted in rapid price movements when breakouts occurred. It’s important to know that these moves are not yet parabolic, but the trend is clearly tilted to the upside.
Support level:
Current support lies between $2.52 and $2.94. If the price falls into this area, it could be a buying opportunity. However, a pullback is not guaranteed at this time. If XRP falls below $2.52 or $2.30 (Jan. 13 lows), it could signal a trend reversal.
The trend remains bullish, but a break below $2.52 may sound a warning. The focus remains on rising prices, with a pullback potentially providing a buying opportunity.
