- Ripple price prediction optimistic for another rise soon.
- XRP price falls down to the $0.25 support levels.
- Strong resistance now found at the $0.26 mark.
The Ripple price prediction by Vince Prince has shown that the cryptocurrency is expected to hit the $0.26 – $0.30 range soon. The price saw a bearish momentum on the 23rd of October fell on the charts.
1-Day Ripple price analysis
On the 23rd of October, the XRP price fell towards the $0.258 level. The price was observed at $0.254 at the time of writing.
Ripple price prediction: Gradual ascension to $0.31?
In another one of his price analyses of XRP, Vince Prince suggests that the coin will eventually move towards $0.31.
XRP has broken out of a long descending channel while supported above an ascending support line shown in the chart. The cryptocurrency has been on a bullish spree ever since the cryptocurrency marked turned green over the past few days. The Exponential Moving Averages seem to be supporting the price, and XRP is expected to touch the support level near $0.25 soon, after which a wave-like trade pattern is to be formed. XRP will finally break above the $0.26 to $0.27 range to rest the second descending trend line and the $0.30 mark.
Kyer stated that XRP observed a huge price correction after August, and a descending channel formed on the charts.
Recently, Ripple regained the $0.245 support, and it has been trading above it for a while now. The cryptocurrency’s market sentiments have allowed the coin to gain a bullish momentum over the days. The coin is expected to ascend above higher resistances to reach the $0.299 level.
Mudrex stated that the price is going to see an uptrend on the 4H time frame in their technical analysis.
The crypto has been trading inside the Bollinger bands with support from the midline. The XRP price is expected to observe an uptrend as it varies near the upper Bollinger Band. The volume has also seen a slight increase lately; it saw an increase with an increase in the price and a decrease with a price fall. This means that buying pressure is strengthening.
The Moving Average Convergence Divergence (MACD) line has moved above the signal line, and the histogram size has also seen a decrease in the positive region. This means that the market currently holds a bullish bias.
The Relative Strength Index (RSI) closed near 62.00. This shows that the coin is still in the neutral region without being overbought or oversold.
Where is XRP price headed?
Solldy drew up a big rising channel for the cryptocurrency, while it currently trades towards the upper resistance of the channel.
Looking at the chart, the coin is expected to slip below the $0.25 level. This is a short opportunity highlighted by the analyst. The take profit lies near $0.247. If the cryptocurrency returns above $0.26, this idea should be validated because the price will look towards testing the $0.265 resistance.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.