Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: gabbarnews12 on October 22, 2022, 08:34:09 AM
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With the anticipated interest rate increase from the US Fed, the cryptocurrency market's negative attitude increased, and the price trends of the majority of the main crypto coins were uncertain.
The XRP coin is no different, as evidenced by the fact that its price oscillates between two immovable barriers. Therefore, a break through either of the range levels will have an impact on Ripple's future trajectory (XRP)
The XRP price fell back to a 50% Fibonacci retracement level as a result of the current slump. A prolonged correction is encouraged by sellers when the 20- and 200-day EMAs cross in a negative fashion. The $4.5 billion intraday trading volume for XRP indicates a 123% increase.
Over the course of a month, the price of the XRP coin has been oscillating between the $0.55 and $0.45 barriers, signalling a range-bound rally. This phase of consolidation serves to support prices following the extraordinary spike in September.
The altcoin has also challenged both of the aforementioned obstacles twice, showing that traders are paying attention to them and may be able to influence the market price. With a negligible intraday drop of 0.04%, the price of XRP is currently trading at 0.4433.
The coin, however, experienced a spike in selling earlier today, which prompted traders to break through both the $0.45 support level and the 50% Fibonacci retracement level. The price, however, recovered the lost ground and exhibited a long-tail rejection candle as the market sentiment subsided.
Additionally, the prices may rise by 21.5% to once again target the $0.55 level because to the renewed bullish trend.
On the other hand, a collapse below the $0.45 support will lengthen the price decline if the market attitude deteriorates.
Read MOre : -https://www.coingabbar.com/en/crypto-currency-news-english/price-dip-opportunity-xrp-dollar-support
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At the instance the market is in bearish season and before thought of higher prices we need to focus on lower resistances and i am seeing 0.3 to 0.4$ is a strong resistance for ripple to break , So bay what your TA says but put an 25% of your buying order on 0.34$ if it breaks i am confident that market will recover in some days .
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When the price of XRP falls as is happening at the moment then this can be a very important moment to buy as much XRP as you can, and after that you can sell it to make a profit withdrawal when the price has gone up again, whereas if you want to buy it then keep using money that is not being used for the near future so that when the price continues to fall it won't make you panic.
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This XRP is one of the private tokens in the market and is also among the top altcoins according to coinmarketcap. Anyway, it's okay to make it one of the long-term holdings, but you shouldn't focus on everything.
Because many other potential altcoins can give us great savings in the future like Bnb, Ethereum, Matic, and SHIB inu,.. apart from Bitcoin which has been tested in this industry.