Rally

<img width="1200" height="578" src="https://coingape.com/wp-content/uploads/2024/01/MliMGTd8-e1704636893509.png" class="attachment-full size-full wp-post-image" alt="XRP price" decoding="async" style="float:right; margin:0 0 10px 10px;">
XRP Price Prediction: The <a href="https://coingape.com/markets/xrp-price-prediction-with-dumping-in-full-force-is-this-the-dip-to-buy-before-etf-approval/">fifth largest cryptocurrency XRP</a> has been highly volatile for the past two months projecting no dominance from buyers or sellers. Despite making notable price movements to show no commitment to a particular direction. However, this sideways action has adhered to two converging trendlines which indicates the formation of a symmetrical triangle pattern. Here’s how this pattern may influence the near future trend of XRP. 
<h2 id="b-will-xrp-price-return-on-recovery-track-b">Will XRP Price Return on Recovery Track?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Under the influence of a triangle pattern, the XRP price may prolong the sideways trend.</li> 
 <li style="font-weight: 400;" aria-level="1">The market participants may witness renewed buying pressure at the lower trendline of the pattern.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the XRP is $779 Million, indicating a 29% loss.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/m/MliMGTd8.png" alt="XRP Price Prediction" width="1946" height="937">
 <figcaption class="wp-caption-text">
 XRP Price Prediction| TradingView Chart
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</figure> 
The 2023 recovery in <a href="https://coingape.com/price/xrp/">XRP price</a> can be tracked using an ascending trendline which offers dynamic support to buyers. During major market corrections, the investors have shown strong buying activity at this support, reflecting signs of a sustainable recovery. 
<blockquote>
 Amid the broader market sell-off on January 3rd, the XRP price showed a long-tail rejection at this support, projecting the buying activity is intact. On the other hand, the daily chart shows a downsloping resistance trendline is preventing this altcoin from attaining a prolonged correction.
</blockquote> 
These two converging trendlines shows indicate the formation of a symmetrical triangle pattern.`By the press time, XRP price trades at $0.56 with an intraday gain of 0.23%. Amid the current uncertainty in the market, the coin price may dive another 10-12% to revisit the lower trendline. 
Anyhow, the XRP price may prolong a sideways trendline until the chart pattern is intact. 
<h2 id="b-where-s-xrp-price-heading-in-january-b">Where’s XRP Price Heading in January?</h2> 
For XRP price to resume the recovery trend it needs a bullish breakout from the triangle pattern. Should buyers break the overhead trendline, they may obtain suitable support to drive a directional trend. The post-breakout rally maybe 30% from the current trading price to hit $0.73, followed by $0.93. 
On a contrary note, a breakdown below the triangle could push the altcoin below the $0.4 mark. 
<ul> 
 <li>Relative Strength Index: The daily RSI slope at 35% accentuates a bearish sentiment for these assets.</li> 
 <li>Bollinger Band: A downswing in the lower boundary of the <a href="https://coingape.com/education/bollinger-band/">Bollinger Band indicator shows the sellers are gaining momentum for further downfall.</a></li> 
</ul> 
<h3 id="related-articles">Related Articles:</h3> 
<ul> 
 <li><a href="https://coingape.com/xrp-avax-enter-grayscales-large-cap-fund-as-matic-takes-exit/">XRP &amp; AVAX Enter Grayscale’s Large Cap Fund As MATIC Takes Exit</a></li> 
 <li><a href="https://coingape.com/xrp-avax-enter-grayscales-large-cap-fund-as-matic-takes-exit/">XRP Whale Dumps Over 50 Mln XRP As Price Slips Below $0.58, What’s Next?</a></li> 
 <li><a href="https://coingape.com/markets/xrp-price-prediction-from-lawsuit-to-launchpad-can-xrp-takeoff-in-2024/">XRP Price Prediction: From Lawsuit to Launchpad, Can XRP Takeoff In 2024?</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/xrp-price-prediction-key-levels-as-xrp-sees-30-rally/">XRP Price Prediction: Key Levels to Watch As $XRP Sees 30% Breakout Rally</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Price Prediction: Key Levels to Watch As $XRP Sees 30% Breakout Rally

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