XRP Price Prediction For January 14
XRP’s price remains above recent swing lows, but the recent rally appears to have ended in correction mode. Despite some positive price action, Market not yet confirmed breakthrough. Historically, breakouts from triangle patterns tend to show strong uptrends. However, the rebound observed earlier this week did not sustain this momentum. XRP briefly rose from around $2.20 to $2.60, but the necessary breakout has yet to materialize.
micro support level
The key support level at $2.39 is considered crucial to sustain the uptrend. Although the price briefly fell below this level, it remains relevant. There is a possibility that the price could re-touch this support area, especially if the market moves upward in a corrective structure before retesting.
The triangle pattern is still in play
Current price action suggests that the triangle pattern (ABCDE) remains intact. Although the price briefly broke through the D wave high point, it failed to hold. To confirm completion of the pattern, a break above $2.72 is required. If the price does not break above this level, the pattern may expand or evolve into a more complex structure.
Market sentiment and the impact of Bitcoin
The broader cryptocurrency market is facing downward pressure, largely due to Bitcoin’s recent price action. XRP was affected, but mostly at the micro level. No major support levels were breached and the overall market structure remained intact. The key failure point for the current triangle pattern is $1.96 – if this level is breached, the market structure could shift significantly.
Possible adverse situations
While the triangle pattern indicates a potential upside breakout, more complex structures such as a WXY correction may also unfold. In this case, the price may first fall before regaining upward momentum. Failure to form a confirmed low suggests that a reversal has not yet occurred.
