XRP Price Analysis for October 18

Most of the coins have come back to the red zone, according to CoinMarketCap.

XRP/USD

The rate of XRP has fallen by 0.35% over the last 24 hours.

The rate of XRP is also more bearish than bullish on the local chart. The price is located closer to the support, which means that there is a high chance to see a further drop.

If the breakout of the $0.4860 zone happens, one can expect a test of the $0.48-$0.4820 area soon.

On the bigger time frame, traders should focus on yesterday’s low at $0.4850. If buyers cannot keep the rate above that mark, there is a possibility to see a drop to the support shortly.

The rate of XRP might have found a support level of 0.00001697. At the moment, one should focus on the bar’s closure. If it happens far from that mark, there is a chance to see a bounce back to the 0.00001750 area.

XRP is trading at $0.4887 at press time.

Source