XRP Price Analysis for January 28

Even though most of the coins are not rocketing at the beginning of the weekend, the majority of them are trading in the green zone.

XRP/USD

The rate of XRP has almost not changed over the past week, falling by 0.25%.

On the hourly chart, the price of XRP has broken the support at $0.4086. At the moment, the daily closure plays an important role. If it happens below, traders may expect a decline to $0.40.

On the daily time frame, the rate is located in the middle of the channel, which means that neither side has seized the initiative yet. Respectively, sideways trading in the area of $0.41-$0.42 might continue next week.

On the weekly chart, the price has tested the mirror level at $0.4425, which serves as resistance. Despite the bounce back, XRP remains bullish while the rate is above the key level of $0.40.

However, if a breakout occurs, the drop may lead to a decline to the $0.38 mark.

XRP is trading at $0.4080 at press time.

Source