XRP (XRP), IOTA (MIOTA) & Monero (XMR) price analysis – 12th January  

XRP (XRP)

Like all other cryptos, XRP (XRP) has been bearish for the last 24-hours. However, in the last 12-hours, it has been range-bound, trading between an upper range of $0.340 and a lower range of $0.335. This could be an indicator that bears are losing momentum. As such, a bullish breakout could be on the horizon. To go long on XRP (XRP), it would be best to wait for a break above the day’s high of $0.345. A long entry at around $0.350 would have a good exit point at $0.365 on the 200-day MA. If it breaks above this level, it could possibly test $0.371. That’s a key resistance level on the 6-hour 100-day MA.

However, if buying volumes remain subdued and XRP breaks below the day’s low of $0.323, it would be a trigger to go short with a target of $0.286. This is a key support level for XRP on the 6-hour chart, and a possible exit point from a 24-hour short position. A break below this price level could see XRP (XRP) test $0.276. This is a key long-term support on the weekly charts. It could mark the beginning of consolidation before a more long-term Bull Run.

IOTA (MIOTA)

IOTA (MIOTA) has been on a downtrend for the last 48-hours. However, in the past 24-hours, it has eased up and has been on a slow uptrend. But, this uptrend is characterized by low volumes, and IOTA (MIOTA) has failed to clear above the last bearish candle at $0.332. This is an indicator that it could be headed downwards even more. As such a short position between $0.34 and the day’s low of $0.293 would be ideal for a short-entry in the day. Such a position would have a good exit point at $0.213. This is a key support level on the 6-hour chart, and a possible level for a consolidation, before a more long-term Bull Run.

However, if IOTA (MIOTA) gains upside momentum and pushes above $0.341, it would be a trigger to go long on IOTA (MIOTA). Such a position would have a good exit point at $0.365. This is a key resistance level on the 200-day MA.

Monero (XMR)

After the huge drop 48-hours ago, Monero (XMR) has been on a slow uptrend in the last 24-hours. However, this uptrend has failed to clear the last bearish candle’s opening of $48.07. This means that bears could still be in control of the market. In essence, anywhere between 47.30 and the day’s low of $44.28 would make for a good entry point into a short-term short position with a target of $38.89. This is a 3-week’s low, and a possible long-term reversal point for Monero before consolidation, and then a Bull Run.

However, if Monero (XMR) sustains this uptrend and pushes above the day’s high of $56.92, it could be an indicator of increased bullish sentiment. This would be a signal to go long on Monero (XMR) with a target of $51.79. This is a key resistance level on the 1-hour 200-day MA. If it breaks above this level it would be an indicator of increased bullish sentiment.  If it breaks above this level, it could possibly rise to $77.54. This is the next key resistance level on the 12-hour 200-day MA.