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XRP Price Analysis for October 19

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Wed, 19/10/2022 - 14:39
XRP Price Analysis for October 19
Cover image via www.tradingview.com

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Bears are completely back in the game as all of the top 10 coins are in the red zone.

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Top coins by CoinMarketCap

XRP/USD

XRP has lost more than some of the top coins, with a fall of 3.54%.

XRP/USD chart by TradingView

On the local time frame, XRP is coming back to the recently formed hourly support level at $0.4535. If buyers cannot seize the initiative, the breakout may lead to a sharp drop to the $0.45 zone soon.

XRP/USD chart by TradingView

On the daily chart, XRP also continues the fall with no reversal signal yet. At the moment, one needs to pay close attention to the $0.45 mark. If the candle closes below it, traders might expect a further drop to the closest level at $0.435.

XRP/BTC chart by TradingView

The chart of XRP against Bitcoin (BTC) shows a similar situation. However, if bulls holds the 0.00002362 BTC level, a false breakout may be a prerequisite for the local correction to the mirror level at 0.000025 until the end of October.

XRP is trading at $0.4450 at press time.

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