XRP-6h. The $0.46 target is still relevant.
While various coins, such as UNI ADA, LINK, have been enriching their investors all last week, XRP has continued to gain strength.
The fact that the previous weekly candle closed above 0.26 is already an achievement for the XRP market. The initiative of buyers, which they started on January 6-7, is preserved. On January 15, sellers showed weakness and failed to update the local low. The sellers' attack of January 11 markedly began to end.
Trading volumes near the local critical price zone $0.24-0.26 are very low. This fact denies the preparation of sellers for the breakdown of this range.
Therefore, our main scenario is a breakdown of consolidation upwards with the first target of $0.36-0.38.
By the nature of the price increase, it will become clear whether buyers have the strength to continue to grow to the global target of $0.46-0.48 without correction. However, the confirmation of this scenario will be breaking the mark of $ 0.31
We will consider an alternative scenario in case the BTC price correction starts. Fixing below $32,000 The situation in the XRP market can change dramatically. In this case, we will consider a test in the range of $0.17-0.18.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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The fact that the previous weekly candle closed above 0.26 is already an achievement for the XRP market. The initiative of buyers, which they started on January 6-7, is preserved. On January 15, sellers showed weakness and failed to update the local low. The sellers' attack of January 11 markedly began to end.
Trading volumes near the local critical price zone $0.24-0.26 are very low. This fact denies the preparation of sellers for the breakdown of this range.
Therefore, our main scenario is a breakdown of consolidation upwards with the first target of $0.36-0.38.
By the nature of the price increase, it will become clear whether buyers have the strength to continue to grow to the global target of $0.46-0.48 without correction. However, the confirmation of this scenario will be breaking the mark of $ 0.31
We will consider an alternative scenario in case the BTC price correction starts. Fixing below $32,000 The situation in the XRP market can change dramatically. In this case, we will consider a test in the range of $0.17-0.18.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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