The price today, friday january 26 is 1.20 (-0.11 -8.40%), a price that is under a lot of pressure from a bear market.
Key points in the analysis
XRP price is struggling a lot to break the resistance of $ 1.3500 against the US dollar.
The current bearish trend line this week with current resistance at $ 1.35 is a solid barrier on the XRP / USD pair chart.
The pair has to move above $ 1.35, $ 1.40 and the simple 100-hour moving average to get upward traction.
The price has difficulties to gain pace against the US dollar and Bitcoin. XRP / USD needs to overcome the selling pressure close to $ 1.35-1.40 to advance toward $ 2.00.
Crucial price resistance of XRP
There were many attempts by the XRP recently to gain momentum above the resistance of $ 1.35 and $ 1.40 against the US dollar. The price did not manage to gain momentum above $ 1.40 and began to decline slowly. An increase was formed to $ 1.4737 from where the price fell. It broke the 38.2% retracement level of the last wave, from the minimum of $ 1,134 to the maximum of $ 1,473.
On the positive side, this week’s bearish trend line with current resistance at $ 1.35 is a solid barrier on the XRP / USD schedule. The resistance of the trend line at $ 1.35 is also close to the simple moving average of 100 hours. The pair finds that it is very difficult to break the trend line, $ 1.40 and the SMA of 100 hours. As long as the pair is below $ 1.40, it could continue to decline. Immediate support is around the Fibonacci retracement level of 61.8% of the last wave from the low of $ 1,134 to the high of $ 1,473.
There is the possibility of a small fall in XRP before the price gains strength to surpass $ S 1.35 and 100 SMA per hour in the short term.
Technical indicators
MACD per hour: MACD for XRP / USD is almost flat, with no bullish sign.
Hourly RSI (relative strength index): the RSI for XRP / USD moves down and down below level 50.
Main support level: $ 1.2000
Highest resistance level – $ 1.3500
