XRP Price Analysis for January 3

The prices of all coins from the top 10 list are falling, according to CoinStats.

XRP/USD

The rate of XRP has declined by 12.34% over the last 24 hours.

On the hourly chart, the price of XRP has broken all possible local levels. Even though bears have seized the initiative, there are low chances to see one more such wave of decline.

Currently, traders should focus on the daily bar closure in terms of the vital area of $0.50. If it happens above it, there is a possibility to expect sideways trading between $0.55 and $0.60.

On the bigger time frame, one should pay attention to the nearest level of $0.5740. If its false breakout happens and the candle closes far from it, there is a chance to see a test of $0.6 by the end of the week.

On the daily chart against Bitcoin, XRP is looking weak as the rate is about to fix below the 0.00001340 level. If that happens, the decline may continue to the 0.00001150 range.

XRP is trading at $0.5627 at press time.

Source