The market has entered a correction phase, according to CoinStats.
![53bcbd0a5573283677a6e7e7cbb1e9cfc39c8a37 XRP Price Analysis for January 13](https://i0.wp.com/pandoraland.info/wp-content/uploads/2024/02/53bcbd0a5573283677a6e7e7cbb1e9cfc39c8a37.png?w=640&ssl=1)
XRP/USD
The rate of XRP has fallen by 4.6% over the last day.
![2dc194d6375ba01a734ff7fcfa0cbb73a3b41198 XRP Price Analysis for January 13](https://i0.wp.com/pandoraland.info/wp-content/uploads/2024/02/2dc194d6375ba01a734ff7fcfa0cbb73a3b41198.png?w=640&ssl=1)
On the hourly chart, the price of XRP is looking bullish as the rate is on the way to test the resistance level. If buyers can hold the gained initiative, there is a chance of a breakout followed by a move to the $0.58 zone.
![79f9c2a145941490a3879d1e5f3d5067330b401b XRP Price Analysis for January 13](https://i0.wp.com/pandoraland.info/wp-content/uploads/2024/02/79f9c2a145941490a3879d1e5f3d5067330b401b.png?w=640&ssl=1)
A less clear picture is on the daily time frame. However, the price is far from support.
In this case, sideways trading in the narrow range of $0.56-$0.58 is the more likely scenario for the next days.
![e352758ac75739b3f9f1e58a4f6173e3f17e1313 XRP Price Analysis for January 13](https://i0.wp.com/pandoraland.info/wp-content/uploads/2024/02/e352758ac75739b3f9f1e58a4f6173e3f17e1313.png?w=640&ssl=1)
A similar picture is on the weekly chart. As neither side has seized the initiative, traders can expect an ongoing consolidation around $0.55.
XRP is trading at $0.5742 at press time.
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