XRP Price Prediction For January 22
XRP has shown positive signs in recent days after the price recovered from its recent rise towards the key 50% retracement level. This pullback found strong support and the price rebounded, leading many to expect higher prices in the near future. However, key support and resistance levels are crucial, with key support for XRP in the short term being between $2.70 and $2.90. If XRP remains above this level, it remains well-positioned for potential upside. At the time of writing, XRP price is up more than 2% in the past 24 hours and is trading at $3.18.
Current market outlook
Two bullish scenarios are being tracked. Some believe that price action from December 3 to January 13 formed a bullish triangle pattern, with a breakout expected to continue the uptrend. Although XRP has yet to break out of its all-time highs, the key resistance area to watch is between $3.35 and $3.40. A break above this level would confirm the potential for new highs.
Overall, the market remains optimistic about XRP, with traders looking for increased upward momentum. The price increase since January 13 is seen as an encouraging sign of a possible trend shift, but it is important to distinguish between a short-term pullback and a sustained bullish move.
Key support and resistance levels
- support area:XRP has tested and found support between $2.52 and $2.94, making this range a critical level to monitor. If the price falls below $2.52, traders will look for further support at the $2.32 and $1.96 levels.
- resistance level: On the upside, the next key target is $4.19, followed by $5, which is an important Fibonacci level on the larger time frame.
