XRP price prediction for January 12

Currently, XRP is moving into a sideways region, which has been characteristic of its price action over the past months. However, in recent weeks, XRP has broken through key resistance levels, which could signal the start of a new bullish trend. At the time of writing, XRP is above the $2.50 mark and has increased by more than nine percent in the last 24 hours.

Looking at the chart, the price of XRP is now sitting above some important levels, which hints that the market may move to new highs.

Important price levels to monitor

Looking ahead, in order for XRP to continue its upward movement and reach new highs, it will need to overcome some key resistance points. The first level to look for an upside is around $2.55, followed by another resistance level at $2.72. If XRP can clear both of these levels, it could pave the way for a rally that could take the price higher.

However, it is important to note that there is a point of inaccuracy to this outrageous situation. If the price falls below $1.96, this may indicate that the current trend will not continue, and the market outlook needs to be re-evaluated. Therefore, support levels in the $2.20-$2.30 range are crucial for XRP's short-term outlook.

Technical Analysis:

XRP has formed a triangular pattern with five waves: ABCDE. This pattern has now technically completed the minimum requirements. The formation of this pattern indicates that the price may go up or down. So far, there has been a positive reaction to the support areas between $2.20 and $2.30, which are the Fibonacci levels that traders use to identify support and resistance zones.