XRP Price Analysis for October 23

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

XRP/USD

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

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.

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.

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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