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XRP Price Analysis for October 23


Bears are back in the game again as all the coins from the top 10 list are falling.

Top coins by CoinMarketCap


XRP has lost the most value among the top 10 coins today, going down by 3%.

XRP/USD chart by TradingView

On the hourly chart, XRP has formed a support level at $0.4545. However, the rate is returning to it, which means that there is a high chance to see a further drop. In this case, traders might see the price of XRP in the zone of $0.45 next week.

XRP/USD chart by TradingView

On the daily time frame, the situation is similar as the rate of XRP has broken yesterday’s low at $0.4564. If buyers cannot bring the price back above that mark by the end of the day, sellers might become even more powerful. This all may lead to a test of the nearest area of $0.44 by the end of the month.

XRP/USD chart by TradingView

From the midterm point of view, XRP is slowly approaching the support level at $0.43804. However, if buyers can hold the rate above the $0.46 mark, the upcoming week might start with a short-term bounce back to the $0.47 zone.

XRP is trading at $0.4559 at press time.


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