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XRP has always struggled to cross the $ 0.3o range since its fall on January 11. While a new test at $ 0.33 was presented on the 19th, the asset could drop below the $ 0.25 level in the next 24 hours.

4 hour XRP chart

Source: XRP / USD on Trading View

As shown in the 4 hour XRP chart, price movement is currently in an ascending triangle. Although with bullish implications, there are a few situations that should be identified in the charts. First, a similar trend formed in the second week of January, which led to a massive fakeout and the price fell to $ 0.265. The main bearish presence at the time was the push of resistance above the moving average at 50.

At the time of publication, the situation is more or less the same. The moving average at 50 continues to maintain overhead resistance, opening the possibility of another false, allowing another retest, possibly below $ 0.265.

While bullish references continue, the chances of a bearish pullback cannot be ignored.

Contract justification

Source: XRP / USD on Trading View

Market indicators have been split due to some differences between parameters. Awesome Oscillator or AO has remained largely neutral at this point, but it could evolve into a bullish momentum, as the green candles were more evident.

The Stochastic RSI has made a bearish crossover in the overbought region, suggesting a correction in the charts. On the other hand, MACD exhibited a bullish cross that may lead to a rally to the upside in the future.

Conclusion

At this time, patience is more important than any other virtue because XRP is incredibly sensitive to both trend changes. While the pattern indicated a bullish reversal, the past move suggested otherwise. Therefore, the market must be watched in the future.

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