The fact that the previous weekly candle closed above 0.26 is already an achievement for the XRP market. The initiative of buyers, which they started on January 6-7, is preserved. On January 15, sellers showed weakness and failed to update the local low. The sellers' attack of January 11 markedly began to end.
Trading volumes near the local critical price zone $0.24-0.26 are very low. This fact denies the preparation of sellers for the breakdown of this range.
Therefore, our main scenario is a breakdown of consolidation upwards with the first target of $0.36-0.38.
By the nature of the price increase, it will become clear whether buyers have the strength to continue to grow to the global target of $0.46-0.48 without correction. However, the confirmation of this scenario will be breaking the mark of $ 0.31
We will consider an alternative scenario in case the BTC price correction starts. Fixing below $32,000 The situation in the XRP market can change dramatically. In this case, we will consider a test in the range of $0.17-0.18.
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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