XRP Price Analysis for January, 28th – XRP Gained Part Of the Lost

On Tuesday, January 28th, the XRP price is growing smoothly, generally trading at $0.2337 and gaining what was lost quite successfully.

The XRP/USD dynamics on H4 have started testing the previously broken support line from below. The aim of testing may be $0.2440. Upon reaching this level, we may expect a bounce and a decline to the support level near $0.1970. Further declining is pointed at by the MACD decline after a divergence. If $0.2440 is overcome, and the quotations secure above it, they will rise to the main resistance line and the level $0.2770.

On H1, there is an ascending channel to the short-term target level of $0.2375. Upon reaching the goal we may expect the beginning of another wave of declining to the support level and $0.2240, which is hinted upon by the Black Cross on the Stochastic in the overbought area. If $0.2240 is overcome, the quotations may proceed to $0.1975.

In the current Ripple report it is said that in the IV quarter of 2019 the sales of the token have shrunk by 80%. Thus, in October-December of the last year, Ripple attracted about $13.08 million while the same period a year before brought the company $66.24 million.

It is commented that in the IV quarter the company was selling strategically: to the partners only and exclusively via OTC schemes. At the same time, in the III quarter the company put on a halt the so-called programmed sales.

It is known that in the IV quarter of 2019 the daily volume was about $187.34 million while in the III quarter it was around $429.51. The volatility of the fluctuations of the XRP at the end of 2019, as the company has found out, has decreased to 3.1%, at the same level with the ETH.

In the IV quarter Ripple noted an increase in the popularity of the ODL (On-Demand Liquidity) approach. No less than 20 companies used the solution, including MoneyGram.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.