Ripple Price Prediction – October 31
The Ripple price prediction reveals XRP starting a slow and steady decline as the coin touché the resistance level of $1.17 level.
Resistance levels: $1.35, $1.40, $1.45
Support levels: $0.90, $0.85, $0.80
XRP/USD is trading around the 9-day and 21-day moving averages after touching the daily high of $1.17. Should the coin slide below the moving averages, it might revisit the $1.00 support before it could start another increase. However, after struggling to stay above $1.10, Ripple begins to move sideways currently trading at $1.10 level which could slowly move the coin into a short-term bearish zone.
Ripple Price Prediction: The Ripple (XRP) May Go Down
According to the daily chart, the Ripple price keeps moving sideways as the coin remains hover around the 9-day and 21-day moving averages. It is currently changing hands at $1.10 and any attempt to make it drop may revisit the nearest support level of $1.00. However, a further bearish movement towards the lower boundary of the channel may open the doors for more downsides and the price could spike to the support levels of $0.90, $0.85, and $0.80.
On the contrary, the market may experience a bullish movement and any further bullish cross above the 9-day and 21-day moving averages may hit the resistance levels of $1.35, $1.40, and $1.45 on its way to the upper boundary of the channel. Nevertheless, should the price fails to rebound, a bearish breakdown is likely to trigger more selling opportunity for traders but the technical indicator Relative Strength Index (14) still remains above 50-level to increase the uptrends.
By comparing with Bitcoin, the Ripple price is currently hovering at 1808 SAT within the 9-day and 21-day moving averages. However, if the opening price of 1753 SAT could serve as market support, the Ripple price may cross above the 9-day and 21-day moving averages, and a move above this barrier may cause the coin to hit the resistance level of 2000 SAT and above.
Nonetheless, if the bulls fail to push the price to the upside, the market may continue with the downward movement and it could probably record further declines below the moving averages. Breaking this barrier could also push the market to the critical support level of 1600 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is already moving above 40-level to confirm the incoming bullish movements.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider