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XRP Price Analysis for January 10

Has XRP accumulated enough strength to conquer the $0.40 mark?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market has almost recovered after a recent correction, and most of the top 10 coins are in the green zone. Bitcoin (BTC) is the only loser from the list, falling by 2.40% over the last day.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

However, the cryptocurrency market capitalization is unchanged since yesterday and is now around $1 trillion.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP is looking the following way:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $15,348,527,649

  • Price: $0.3398

  • Volume (24h): $8,662,957,616

  • Change (24h): 3.94%

The data is relevant at press time.

XRP/USD: Can $0.40 be achieved before an upcoming correction?

XRP is one of the biggest gainers in terms of the price change over the last week. The rate of the altcoin has rocketed by 51.25%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the hourly chart, XRP is trying to show short-term growth after a sharp drop to $0.31. At the moment, it is too early to consider a move to $0.40 as the power is not enough based on the liquidity. In this case, the nearest target is $0.3609.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the bigger chart, XRP is in the consolidation position before a continued rise. The coin has gathered enough efforts for the retest of the vital level at $0.40.

👉 MUST READ BTC, ETH and XRP Price Analysis for January 9related article image

In addition, buyers' strength is confirmed by high liquidity at the current levels.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

In the longer term, XRP has the chance to come back to $0.50 in a few weeks if bulls keep trading above $0.30. However, the trading volume is not enough for a sharp rise, which means that more time is needed to get back to the bullish trend.

XRP is trading at $0.3312 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com