Ripple continues the drop that started in the later part of last week. In the last 24 hours, price has dropped nearly 20%. Will there be a recovery soon? 10 January Ripple price prediction below comes with a clue.
10 January, AtoZForex – Ripple has been one of the most volatile coin since the turn of the year. After peaking on 4th January, a fast dip started. Ripple has now dropped to its opening price of the year, a whooping 50% fall in less than 6 days. Market Cap also dropped from $98 Billion to $76 Billion in just 2 days. Price is absolutely in a downward move.
In the last update, we used the chart below.
The chart above shows a bullish impulse wave pattern. The dip we saw since last Thursday is corrective. It seems there is more to do upside especially if price breaks as shown in the chart. This could be the last leg of rally before a major crash would happen. A dip below $1.5 in the coming days against our forecast is not very much likely but a possibility. Personally if I am to put a wager on this, it would be in favor of further bullish moves in the coming days.
Price dipped further as volume dropped. Is there any likelihood of bullish resurgence? There are two scenarios that will likely play out.
10 January Ripple price prediction: 1st Scenario
The scenario above suggests that a bullish resurgence may start soon. A recovery to $2.5 could be seen today or tomorrow. If price breaks above, the bullish trend just returned and price rally above $4 in the coming days. If price rallies but stays below the upper channel, there is a possibility of price emerging into a clear head and shoulder bearish pattern as shown in the second scenario below.
10 January Ripple price prediction: 2nd Scenario
The chart above shows price could make a rally toward $2.5 before crashing further. If this plays out, Ripple could dip further to $1 or below. How probable is that? We will need to look at price activities and volume in the coming days. If the volume continues to go down at this rate, the dip is very likely. A turn up in volume could see price following the first scenario. Updates will be provided. Stay tuned.
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