Ripple Price Prediction for Today, October 23: XRP Trends Lower

Updated: 23 October 2022

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Sellers are dominating Ripple market

Should the Bulls interrupt the bears at $0.45 level, the resistance level of $0.47 may be penetrated, Ripple may increase to $0.50 and $0.52 levels. In case sellers gain more momentum, the support level of $0.45 may be penetrated downside and the support level of $0.43 may be tested, which may extend to $0.39 level.

XRPUSD Price Analysis – October 23

Key Levels:

Supply levels: $0.47, $0.50, $0.52

Demand levels: $0.45, $0.43, $0.39

XRP/USD Price Medium-term Trend: Bearish

XRP/USD is bearish on the medium-term outlook. A bearish chart pattern called double top formed at the resistance level of $0.55 last three weeks. The crypto obeyed the command from the sellers. The price broke down the former support level of $0.47. It tested the support level of $0.43 on 20 October. It is currently pulling back towards the resistance level of $0.47.

XRP is trading below the 9 periods EMA and 21 periods EMA. At the moment, sellers are dominating the Ripple market. The Relative Strength Index period 14 is at 49 levels with the signal lines pointing down which connotes sell signal. Should the Bulls interrupt the bears at $0.45 level, the resistance level of $0.47 may be penetrated, Ripple may increase to $0.50 and $0.52 levels. In case sellers gain more momentum, the support level of $0.45 may be penetrated downside and the support level of $0.43 may be tested, which may extend to $0.39 level.

XRP/USD Price short-term Trend: Bearish

XRPUSD is bearish on the 4-hour time frame outlook. The price is trading within a descending channel formed last two weeks on the 4-hour time frame. Bullish movement was terminated at the resistance level of $0.56. Sellers’ pressure increased and the price is decreasing towards the support level $0.45. It is pulling back at the moment.

XRP price is trading around the 21 periods EMA and 9 periods EMA which indicates a pullback in Ripple market. The relative Strength index period 14 is at 55 levels with the signal lines pointing up to indicate a buy signal.

At the moment, IMPT token is already above midway through its presale, and it is increasing beyond expectation, having now raised around $6m.

Dash2Trade presale stage one took less than 4 days for its sell out. Currently, D2T remains cheap at 0.05 USDT in stage two. Currently, the amount raised is increasing towards $2 million USD.

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