Ripple Price Prediction for Today, October 31: XRP May Trend Lower

Updated: 31 October 2022

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Sellers are dominating Ripple market

Further increase in the bears’ pressure may break down the support level of $0.43, in which it may extend to $0.39 and $0.36 support levels. Should the Bulls interrupt the bears at $0.43 level, the resistance level of $0.45 may be penetrated, Ripple may increase to $0.47 and $0.50 levels.

XRPUSD Price Analysis – October 23

Key Levels:

Supply levels: $0.45, $0.47, $0.50

Demand levels: $0.43, $0.39, $0.36

XRP/USD Price Medium-term Trend: Bearish

XRP/USD is bearish on the medium-term outlook. After the formation of a bearish chart pattern called double top, the coin obeyed the command by producing more daily bearish candles. The price decreased and tested $0.43 support level. It pulled back to retest $0.46 level. Sellers are exerting more pressure on the coin at the moment and there is tendency for further price decrease.

At the moment, sellers are dominating the Ripple market as it is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is at 45 levels with the signal lines pointing down which connotes sell signal. Further increase in the bears’ pressure may break down the support level of $0.43, in which it may extend to $0.39 and $0.36 support levels. Should the Bulls interrupt the bears at $0.43 level, the resistance level of $0.45 may be penetrated, Ripple may increase to $0.47 and $0.50 levels.

XRP/USD Price short-term Trend: Bearish

XRPUSD is bearish on the 4-hour time frame outlook. The coin is trying to break out from the descending channel formed last three weeks on the 4-hour time frame. Bearish movement is increasing as more bearish candles are produced.

XRP price is trading below the 21 periods EMA and 9 periods EMA which indicates a bearish momentum in Ripple market. The relative Strength index period 14 is at 39 levels with the signal lines pointing down to indicate a sell signal.

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