January 5 XRP price prediction
Ripple's XRP is currently down more than two percent and is trading below the all-important $2.40 level. For XRP to maintain its upward momentum, it needs to hold above the current support levels, specifically the $2.29 mark. Keep in mind that XRP, like many major altcoins, often follows the price action of Bitcoin. If Bitcoin experiences a short-term blip, we will see similar movements in altcoins such as XRP.
Is it possible to go back or a little slow forward?
Although a bearish divergence indicates a pullback, it does not always lead to a major decline. Sometimes, it will cause a slight slowdown like the current resistance around the $2.50 mark. With XRP approaching a key resistance point and flashing this warning signal, it's not the best time to open new long positions. In fact, it may be a good idea to take some profit from the current positions.
Support and resistance levels
The price is facing resistance at $2.70 and $2.63. Pivot points show further resistance at $2.58 and $2.53, with some resistance observed in the 3-10 days with the average crossover and raw stochastic levels at 80% and 70%.
The price has crossed the 18-day moving average at $2.41, and is a 38.2% retracement from the 4-week high at $2.41. Additional support is available at $2.40 (first support point) and $2.35 (second support point), with a 50% retracement from the 4-week high/low at $2.31. The 9-day moving average stands at $2.33.
Additional support levels are seen at $2.27 and $2.19, where the price crosses the 9-day moving average. Deeper support is available at $2.20 and $2.11, with raw stochastic levels showing oversold conditions by 20%.
