CryptoSignals News

Join Our Telegram

Ripple (XRP) Breaks the Barrier level but Faces Rejection at $0.43

January 24, 2023

#Price Analysis#RIPPLE#XRP#XRP/USD

Ripple (XRP) Long-Term Analysis: Bullish
Ripple (XRP) price is breaking over the barrier at $0.40 but faces rejection at $0.43. Following the recent breakout, buyers will be able to keep the price above the resistance for the first time. Potentially, the present price increase will reach a maximum of $0.45. The upward trend will eventually reach a high of $0.50. Nevertheless, the market’s overbought area is getting closer to a bullish momentum. It is therefore doubtful that the positive momentum will continue to the $0.50 high. If the barrier of $0.43 is not overcome, XRP will fall back to its breakout level of $0.40.

Ripple (XRP) Indicator Analysis
Ripple is moving in the right direction and has a Relative Strength of 69 for period 14. It shows that the bullishness of the market has run its course. If the price bars continue to rise above the moving average lines, the current uptrend might continue. The altcoin has been in a positive trend above the daily Stochastic threshold of 75. As the market enters the overbought zone, the bullish impetus is waning.

Ripple (XRP) Breaks the Barrier level but Faces Rejection at $0.43
XRP/USD – Daily Chart

Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50

What Is the Next Direction for Ripple (XRP)?
Ripple has left the range-bound movement but faced rejection at $0.43. At $0.43, XRP has entered the overbought zone. The bullish momentum has slowed since January 23. The price of the coin is ranging below the barrier level. The bullish trend will carry on after the current resistance is

overcome.

Ripple (XRP) Breaks the Barrier level but Faces Rejection at $0.43
XRP/USD – 4 Hour Chart

You can purchase crypto coins here. Buy LBLOCK


Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full
technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

Join Our Telegram