XRP Price Prediction For January 19: Can XRP Sustain Recent Gains or is a Pullback Imminent?

XRP has dropped 5.25% in the past 24 hours, claiming a daily low of $3.09.
XRP rallied from $2.3 to $3.4 in the past seven days, marking a price surge of 47%.
The XRP token is expected to benefit significantly under the Trump administration.

XRP faces a potential correction to the $3 level after a sharp rally, fueled by rumors that President-elect Donald Trump may consider XRP for inclusion in the U.S. national reserve. Ripple, the U.S.-based company behind XRP, has since brought on discussions about its potential influence on national financial policies.

At the time of writing, XRP is trading at $3.14, down 5.25% in the past 24 hours, according to CoinMarketCap data. The digital currency recently hit a seven-year high of $3.40 before dropping to a daily low of $3.09 as sellers gained momentum. Currently, XRP is 18.42% below its all-time high of $3.84, recorded in January 2018.

XRP appears to have established support at the $3 level, with resistance looming above $3.40. The token, which failed to breach a $200 billion market cap, is now valued at approximately $180.91 billion.

Speculation on Trump and XRP Fuels Market Buzz

Rumors about Donald Trump potentially using XRP and other American cryptocurrencies to address the United States’ $35 trillion national debt have caught the market’s attention. With the January 20th Inauguration Day approaching, this speculation could drive further price volatility for XRP.

XRP Price Analysis

The daily chart from TradingView highlights that the MACD indicator remains bullish for XRP. The MACD line (blue) and the signal line (red) are diverging, indicating a continuation of bullish momentum. However, the intensity of the MACD histogram has declined slightly, reflecting the correction observed over the past 24 hours.

The RSI indicator currently reads 70, signaling strong buying pressure for XRP. Although the token was briefly overbought, the RSI gradient suggests a cooling-off period may be underway. Additionally, XRP’s trading volumes remain lower than during its November-December rally, leaving room for potential growth if market activity picks up.

Key Takeaways

Support Level: $3 remains a key support level for XRP, with resistance at $3.40.
Market Cap: XRP’s market cap currently stands at $180.91 billion, short of the $200 billion milestone.
Speculation and Volatility: Rumors surrounding Trump’s potential use of XRP could fuel further market movements.
Indicators: The MACD and RSI suggest bullish momentum, but a short-term correction may occur.

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