The market continues to decline at the end of the week, according to data from CoinMarketCap.
**XRP/USD Analysis**
The rate of XRP has dropped by 5.82% over the past 24 hours. On the hourly chart, the price of XRP experienced a false breakout below the local support level of $2.2023. If the rate does not recover significantly from this point and the daily candle closes near $2.20, there is a high chance that the downward trend will continue toward the $2.15 zone.
On a longer time frame, there are no clear reversal signals yet. Should the daily candle close near its low, traders can expect a potential test of the $2.00 support level soon.
From a midterm perspective, bears currently control the market. If the bulls fail to regain momentum, the price could test the support level at $1.7711 by the end of the month.
At press time, XRP is trading at $2.2609.
https://u.today/xrp-price-analysis-for-october-17-0
Be First to Comment