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XRP Price Analysis: Will XRP Crypto Price Rebound To $10 In 2022?

Adarsh Singh by Adarsh Singh
January 10, 2022
in News
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XRP Price Analysis: XRP Coin Price Has Given A Positive Breakout For The New High
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  • XRP coin price has been seeing a consolidated trend near its major crucial level and can soon see a new high. In contrast, the asset has seen a loss of more than 0.5%.
  • Technical indicators of XRP are currently favoring the bulls for the future. In contrast, XRP/BTC pair is down by more than 0.25%

XRP crypto price has been stuck inside a consolidated zone for a long time with its case still pending to the court. XRP asset price is currently close to the worth of $0.75 with a loss of more than 0.5%. The coin is trending in close range with an aim to break out for a new high. The asset upside trend may face a setback near $1. If the trend observes a strong momentum then a new high can be seen. The XRP/BTC pair might also see a strong trend in the future.

XRP coin is currently ranked 8th in the CMC with a market dominance of more than 1.8%. The asset case in the court can soon see a verdict in the future. If the coin sees a positive verdict then it may reach a new high in the future. The volume to market cap ratio of the XRP hints towards a consolidated range for upcoming days.

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Technical Indicators Of XRP Crypto Favors Consolidation

Source: Trading view

XRP coin price is currently testing a crucial zone in the daily chart and may give a new breakout. Coming to the daily chart, XRP has been in a consolidated mode for a long time. The asset has been seeing a consolidated move in the weekly chart. If the coin sees a downtrend then a new low can be seen. One can expect a solid potential gain in the coin in future

Conclusion

XRP coin price consolidated move may soon see a further breakout in the future and can soon see a new high. XRP/BTC pair can also see a strong trend in the upcoming days. One should do their due diligence before investing in the XRP.

Technical Levels

Major Support: $0.7
Major Resistance: $1

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Adarsh Singh

Adarsh Singh

Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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