14-17 January Ripple price prediction - XRP/USD and XRP/BTC Forecast

Ripple in the last week was on a bearish run after it appeared a break above $4 would happen in the previous week. Will price resume upside or the dip will continue. The following 14-17 January Ripple price prediction  looks at the two most traded Ripple pairs - XRP/USD and XRP/BTC

14 January, AtoZForex  -  Ripple continued the bearish run today after a small bullish recovery yesterday. Price rallied slightly above $2 before dropping below it in less than 24 hours. In the last 24 hours Ripple dropped 8.15% against Dollar to trade at $1.83 and dropped 2.72% against BTC to trade at 0.00013597. Ripple still remains the 3rd most traded coin despite losing 45% of its market cap in less than 2 weeks. Ripple's volume of trade is around $1.8 biillion after consistent drops last week.

14-17 January Ripple price prediction - XRP/USD Forecast

14-17 January Ripple price prediction XRP/USD Price chart, H2 (click to zoom)

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Price was once around $4 before a fast drop followed. Since last December bullish breakout, price has completed an impulse wave which meant that a bearish correction was to follow. According to the Elliott wave theory, price trends in 5-waves and corrects in 3-waves.  Isn't what we are having now - a 3-wave dip that usually follows an impulse wave? We should expect price to resume upside this week by first break above $2. The more price stays below $2, the deeper the correction could go. Basically, a price move above wave (i) top could lead to a strong bullish move and send price upside again.

14-17 January Ripple price prediction - XRP/BTC Forecast

14-17 January Ripple price prediction XRP/BTC Price chart, H2 (click to zoom)

Just like XRP/USD, XRP/BTC is also making a 3-wave dip after a strong bullish impulse wave rally. In this case, price could be in the 4th wave which still stays above 0.00012056. A new 5-wave rally is possible to 0.000256 if the bearish nature of BTC persists and XRP improves. Alternatively, there is a possibility of a head and shoulder pattern which will be confirmed once price breaks below the 0.00012056 support.

In conclusion, Ripple has a higher chance of being bullish this week than not. We should expect some gain this week.

Do you have other views in contrast to the ones listed or you want to compliment them further? let’s know by your comment below.

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