XRP price Update

[Batch18-19]

The tight range trading in Ripple (XRP) resolved to the upside on Oct. 9 with a break and close above the 50-day SMA ($1.08). However, the long wick on the Oct. 10 candlestick shows that bears are defending the minor resistance at $1.24.


XRP/USDT daily chart. Source: TradingView
If bulls do not give up much ground from the current level, the possibility of a break above $1.24 increases. The 20-day EMA ($1.06) is sloping up marginally and the RSI is above 60, signaling advantage to buyers.

A break and close above $1.24 could push the XRP/USDT pair to $1.41. This may prove to be a difficult obstacle to overcome but if crossed, the pair could rally to $1.66. This bullish view will invalidate if the price turns down and breaks below the 20-day EMA. That could pull the price down to $1 and then to the 100-day SMA ($0.93).[urlhttps://cointelegraph.com/news/price-analysis-10-11-btc-eth-bnb-ada-xrp-sol-doge-dot-luna-uni]source