Bitcoin Garden Forum

Cryptocurrencies => Trading => Topic started by: Jonter on January 24, 2022, 02:33:44 PM

Title: XRP Price analysis
Post by: Jonter on January 24, 2022, 02:33:44 PM
(https://crypto-economy.com/wp-content/uploads/2022/01/Ripple-Daily-Chart-for-January-24-768x432.png)

The XRP price is down 56 percent from H2 2021 highs at the time of writing, with discouraging indicators of possibly more losses down the line.

From the candlestick arrangement in the daily chart, sellers are squarely in charge. Notably, XRP prices are printing lower, aligning with the formation of December 4, 2021, confirming sellers from an Effort-versus-Results perspective.

Even so, there has been a pullback from last week’s lows reading from the January 23 bar formation. At the same time, the January 22 bear bar fell below the lower BB, suggesting an element of undervaluation.

In that regard, XRP prices may snap higher as market forces seek correction. It will be a reprieve for XRP holders, especially since XRPUSDT is within a clearly defined downtrend.

Every pullback higher but below $0.70 could offer entries for XRP sellers riding the trend and targeting July 2021 lows of $0.50.

source: https://crypto-economy.com/ (https://crypto-economy.com/)