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- Ripple price prediction set for $0.32.
- Ripple support levels rise up to $0.257.
- Strong resistance persist at $0.26.
The Ripple price prediction by Casper suggests that XRP will soon retest the $0.32 resistance after observing a breakout above the triangle pattern. The cryptocurrency recovered price and moved towards the $0.257 mark on the 24th of October.
1-Day Ripple price analysis
XRP observed a price fall from the $0.26 mark to the $0.251 level on the 23rd of October, after which it has been on a gradual uptrend. The price was marked at $0.257 at the time of writing.
What to expect from XRP?
The price has been varying above the $0.255 level on the 24th of October. Recently, Ripple observed an uptrend that lasted over three days, and the price finally moved above the $0.26 mark to test a rising resistance.
The cryptocurrency got rejected by the rising resistance, and the price returned towards the newly formed support near the $0.255 level. For its next move, Solldy expects Ripple to observe a downtrend towards the $0.247 level, which is where the bottom horizontal support lies above the ascending support level. This is a shorting opportunity for the XRPUSD pair, with a take profit marked at $0.247. However, if the price observes an uptrend towards $0.26, the trade will be invalidated.
Will Ripple return to $0.263
Another trade setup was marked on Ripple’s charts by YM Group. Per the trade setup, the cryptocurrency is well-supported by a horizontal support level near the $0.251 mark. The price prediction suggests that the price will rise towards the $0.263 resistance again.
As talked about in the previous idea, the cryptocurrency tested the $0.263 resistance on the 22nd of October, and now the price has moved towards the $0.255 level. As Ripple observed a slight increase in the price on the 24th of October, the chances are that the price will observe further increase and touch the $0.263 resistance again.
Ripple was building up this move towards the $0.263 mark for quite a while, and it finally tested it. A price rejection may have caused a pullback, and the cryptocurrency is expected to recover soon and head back above the $0.262 level.
Ripple price prediction: Upward breakout ahead?
The Trading View analyst Casper drew a descending channel inside a larger triangle pattern. The analyst expects a breakout to take place above the triangle.
The upward breakout from the descending channel should have built enough momentum for the cryptocurrency to move towards the triangle’s upper boundary. If the price breaks above this triangle, the crypto will move towards the $0.30 mark and above it, per the analyst. The analyst stated that XRP seems to be aiming to test the $0.32 resistance.
The Moving Average Convergence Divergence (MACD) line seems to have moved close to the signal line. The histogram size seems to be decreasing in the negative region, while the Relative Strength Index (RSI) closed below 60.00. This means that the coin is in the neutral region with no oversold or overbought instances.
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.
