Ripple Fluctuates but Unable to Reach Target Price of $0.23

Jan 14, 2020 at 11:23 // News
Coin Idol
Ripple is unable to reach target price

Ripple has repeatedly continued to fluctuate between $0.21 and $0.2250. The price movement has remained constant within the current price range because of the XRP's lack of buyers at a higher price level. This lack of buyers is a major constraint for Ripple. The price movement will not perform any magic until more buyers are introduced into the market.

At the moment, XRP cannot appreciate beyond $0.22 or $0.2250. For example, the coin is rising and approaching the $0.22 at the time of writing. XRP may attain a price of $0.22 or $0.2250 but the price will remain unsteady. Nonetheless, because of the lack of buying power, it will slide down to revisit the lower price levels. This had been the market situation since January 6.

Ripple (XRP) Indicator Analysis

Ripple has sustained its current status above the EMAs. That is the bullish trend zone where the market tends to rise. Unfortunately, the market has refused to rise because of buying power at a higher price level. The MACD is indicating a buy signal as the MACD line and the signal line break above the zero line.

XRP-CoinIdol (2).png  

Key Resistance Zones: $0.35, $0.40, $0.45

Key Support Zones: $0.25, $0.20, $0.15

What Is the Next Move for Ripple (XRP)?

Ripple is stable in the bullish trend zone. The market is still fluctuating and yet to cross above the $0.2250 price level. Our expectation is that Ripple will rally above $0.23 once the $0.2250 resistance is broken. In the market, the bulls and bears are the opposing forces. On one hand, if the bulls fail to break above the resistance; the bears might take the price from the bulls and sink it below $0.20. This will result in the price reaching the low of $0.18.                   

Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.

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