XRP Price Prediction for January 4

The weekend has started bullish for the majority of the coins, according to CoinMarketCap.

XRP/USD

The rate of XRP has risen by 1.11% over the last 24 hours.

Despite today’s growth, the price of XRP is looking bearish on the hourly chart. If a breakout of the local support happens, the decline is likely to continue to the $2.40 zone by tomorrow.

On the bigger time frame, the picture is also more bearish than bullish. The rate of XRP has made a false breakout of the recently formed resistance of $2.4798.

If the daily bar closes far from that mark, one can expect a test of the $2.35 range soon.

From the midterm point of view, the situation is neither bullish nor bearish. The volume is falling, confirming the absence of buyers’ and sellers’ power. All in all, sideways trading in the zone of $2.30-$2.70 is the more likely scenario.

XRP is trading at $2.4430 at press time.

Source