RIPPLE PRICE ANALYSIS & PREDICTION (January 29) – XRP Increases 3% Daily Amid Market Weakness, Sets For a Fresh Buy

2025-1-29 22:19

Amid the latest bloodbath, Ripple’s XRP posted minor gains today due to a quick rejection earlier this week. It slowly reaches an exhaustion point but its bullish trajectory is still intact while is set for another buy. 

Following the yearly bullish start that saw the price to a new high after two weeks, XRP halted buying and initiated drops due to rejection.

That drop led to a two-week pullback and the price tested a low of $2.66 on Monday. It sharply rejected this low with a bounce and closed with a small gain. Although volatility turned out low yesterday and the asset remained indecisive throughout the day.

Buying volume appears low today but it currently shows signs of strength and looks prime for an increase despite the latest market bleeding. A rise in the daily volume should bring a notable increase.

The newly marked high may pose a little threat before breaking out massively. Failure to break may result in suspense of the bullish move while subjecting briefly to a sideway move.

Looking at the daily chart, XRP’s volume indicator is currently on the fall, indicating a potential divergence. If that happens, the crypto may lose momentum and turn bearish in no time. But for now, the bulls are taking charge.

XRP’s Key Level To Watch

Source: Tradingview

The $3.4 level is considered the next key resistance for a test. A break above it should rally the price to $4. The higher level to watch for an increase is $4.5.

Holding Monday’s $2.66 low as support, a drop below it could cause a serious decrease to $2.2 and $1.9. If all these supports fail to hold, the next key level for a broad correction would be $1.

Key Resistance Levels: $3.4, $4, $4.5

Key Support Levels: $2.66, $2.2 $1.9

Spot Price: $3 Trend: Bullish Volatility: Low

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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