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XRP Price Analysis for October 17

Mon, 10/17/2022 - 16:08
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Denys Serhiichuk
Can XRP join list of rising coins?
XRP Price Analysis for October 17
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Buyers held the gained initiative until the end of the day as most of the coins continue trading in the green zone.

Top coins by CoinMarketCap


XRP could not follow the rise of other coins, falling by 1.45%.

XRP/USD chart by TradingView

Despite today's fall, XRP is trading near the recently formed local resistance at $0.4822. If the upward move continues until the end of the day, there are chances to see the test of the $0.49 zone tomorrow.

XRP/USD chart by TradingView

The situation is not so clear on the daily time frame, as XRP keeps accumulating power for the further move. Such a statement is also confirmed by the low volatility. In this case, the more likely scenario is ongoing sideways trading in the range of $0.475-$0.49.

XRP/BTC chart by TradingView

Analzying the daily chart of XRP against Bitcoin (BTC), one can say that the altcoin is not ready yet for a continued rise. However, if buyers lose the BTC 0.000024 mark, traders might expect to fall to the support level of BTC 0.000022 within the next few days.

XRP is trading at $0.4767 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at