By CryptoPotato | Created at 2024-10-24 12:10:22 | Updated at 2024-10-24 14:20:33
2 hours ago
XRP’s price action continues to show indecision.
Key Support levels: $0.48, $0.52
Key Resistance levels: $0.60, $0.68
1. Key Support Under Pressure
So far in October, XRP was unable to make new highs. This has kept the price close to the key support at 52 cents which is currently being disputed. If sellers are successful here, then the cryptocurrency could fall to 48 cents next.
Chart by TradingView2. Buyers Struggle to Maintain Control
Even if buyers show weakness, they still manage to hold XRP above 50 cents. Nevertheless, time is running against them as sellers continue to put pressure. Eventually, the key support may fall if the buy volume does not return.
Chart by TradingView3. Volume in Decline
XRP’s volume has been declining since March, with clear lower highs. Until this trend reverses, buyers are fighting an uphill battle. If nothing changes, a drop to lower support levels is likely. Watch 48 cents as the next key level.
Chart by TradingViewBinance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
