As a seasoned crypto investor with years of market fluctuations under my belt, I’ve learned to weather the storm and adapt to the ever-changing tides of the digital currency world. Today’s bearish trend is nothing new, but it’s always a reminder that we should never let our guard down.
Bears are becoming more powerful, according to CoinMarketCap.
XRP/USD
The rate of XRP has fallen by 0.73% over the last 24 hours.
On an hourly basis, the value of XRP appears to have breached its nearby support at $0.5231 unnaturally. Should today’s closing price deviate significantly from this level, traders might observe a rebound towards the resistance level by the next day.
Over a larger period, XRP’s rate is consistently decreasing. But remember to focus on when the candles close.
If an event occurs at a distance from its current low, there’s a possibility that we might witness a reversal, which could lead us towards the $0.5350-$0.54 region.
A somewhat negative trend is visible on the weekly graph. Should the price hold its current level at closing, there could be sufficient momentum to challenge the support level of $0.5026 in the near future.
XRP is trading at $0.5282 at press time.
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2024-10-23 18:13