Ripple‘s token XRP trades near $1.6 amid market concern that a fall below $1.5 could spark liquidity outflows. Traders noted these risks while an analyst highlighted a possible chart reversal on Jan. 29 (Ed. note: this is the lowest level in months).
A hammer candlestick often signals a bullish reversal after strong selling pressure. The pattern shows buyers absorbing earlier selling and holding price near the session high.
“$XRP—ignore ALL HOPIUM/clarity news that made you EXIT LIQUIDITY! (aka: The REKT) 🤣😂. XRP is printing a HAMMER at the bottom. Sellers slammed it down. Buyers absorbed EVERYTHING. This is exactly what local bottoms often look like before reversals. The next candle must be green!” The message appeared on Twitter from analyst JD (stated on Twitter).
XRP sat around $1.6, up about 2% in the last 24 hours. Ripple recently secured an EU e-money license, expanding its cross-border settlement reach.
According to Flitpay, XRP may target $9 while some projections see a nearer-term move toward $2. Market participants continue to watch price action and candlestick confirmations.
