By Dmitriy Gurkovskiy, author at RoboForex Blog
On Friday, January 10th, the XRP is still selling, generally trading at $0.2014.
On D1, the XRP demonstrates the bearish predominance inside the previous channel. The declining direction of the MACD supports further decline. A breakout of the low of $0.1741 can open the way to the psychological level of $0.1000.
Also, in this area, we can see the impulse of the correctional growth almost reaches 38.2% ($0.2277) Fibo but currently there is a local pullback. Then we should expect another wave of growth to 50.0% ($0.2444) but the main goal of the growth may be the long-term resistance level of $0.2813.
On H4, the cryptocurrency is declining after testing the upper border of the short-term growth channel and a Black Cross on the Stochastic. The main scenario here may be aiming at the local support level and the level of $0.1917. Currently, the price is testing the formerly overcome resistance level that has become support. A bounce off this level will let the market form a wave of…