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XRP Price Analysis for October 18

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Wed, 18/10/2023 - 15:15
XRP Price Analysis for October 18
Cover image via www.tradingview.com

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Most of the coins have come back to the red zone, according to CoinMarketCap.

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Top coins by CoinMarketCap

XRP/USD

The rate of XRP has fallen by 0.35% over the last 24 hours.

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Image by TradingView

The rate of XRP is also more bearish than bullish on the local chart. The price is located closer to the support, which means that there is a high chance to see a further drop.

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If the breakout of the $0.4860 zone happens, one can expect a test of the $0.48-$0.4820 area soon.

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Image by TradingView

On the bigger time frame, traders should focus on yesterday's low at $0.4850. If buyers cannot keep the rate above that mark, there is a possibility to see a drop to the support shortly.

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Image by TradingView

The rate of XRP might have found a support level of 0.00001697. At the moment, one should focus on the bar's closure. If it happens far from that mark, there is a chance to see a bounce back to the 0.00001750 area.

XRP is trading at $0.4887 at press time.

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