1/01/2021

Ripple XRP Price Analysis Today January 2, 2021

Last month, a few days after the Flare token snapshot, XRP dive down due to the SEC lawsuit that was filed by Jay Clayton the day before he resign from his position as SEC Chairman.

The XRP price went down further as US crypto exchanges started halting XRP trades due to the fear that they might get sued as well.

The dip went down to $0.174 from $0.778 but right now it is starting to crawl back up currently trading at around $0.23.

Today I will try to discuss the XRP price on what to expect in the coming days based on what I see on the current XRP chart. This is not a investment / financial advice so trade at your own risk.


30 MIN TIMEFRAME


If you look at the 30min timeframe you can clearly see that it is forming a triple top trying to break the $0.25 price. Triple top is considered bearish in general.

From its low ($0.17) you can see that it is creating a higher low, an up trend, however; due to the fact that it failed to break $0.25 three times there is a big chance that it will go down again if it fails to break $0.25 within this week. It will either re-test the $0.17 again or go down further depending on how the Ripple lawsuit goes.


My Standing

I still believe in long term for XRP and I believe that this lawsuit will be resolved just like any other lawsuit that Ripple faced months and years ago. They will either win the case or pay the fines if they lost against SEC.

It is risky but imagine the price if Ripple will win this case. High risk high reward.