XRP Price Prediction for January 5
Ripple’s XRP is currently down more than 2%, trading below the key $2.40 level. For XRP to maintain its upward momentum, it must remain above current support levels, specifically the $2.29 mark. Keep in mind that XRP, like many major altcoins, typically follows Bitcoin’s price movements. If Bitcoin experiences a short-term rally, we may see a similar move in altcoins like Ripple.
Is there a possible correction or slight slowdown ahead?
While a bearish divergence may signal a pullback, it does not always lead to a sharp decline. Sometimes, it leads to minor slowdowns, such as the current resistance near the $2.50 mark. With XRP approaching a key resistance point and flashing this warning signal, now is not the best time to open a new long position. In fact, it might be a good idea to take profits from existing positions right now.
support and resistance levels
The price also encountered resistance at $2.70 and $2.63. Pivot points show additional resistance at $2.58 and $2.53, with some stalls observed at the 3-10 day moving average crossover and original stochastic levels of 80% and 70%.
Prices broke above the 18-day moving average at $2.41, the 38.2% retracement of the 4-week high at $2.41. Additional support is seen at $2.40 (first support) and $2.35 (second support), the 50% retracement of the 4-week high/low of $2.31. The 9-day moving average is also stuck at $2.33.
Further support appears at $2.27 and $2.19, where the price crossed the 9-day moving average. Deeper support lies at $2.20 and $2.11, with raw stochastic levels indicating 20% oversold conditions.
