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Ripple Price Prediction For Today, October 31: XRP May Trend Down

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Sellers dominate the Ripple market

A further increase in bear pressure may break the $0.43 support level, in which it may extend to $0.39 and $0.36. If the Bulls interrupt the bears at the $0.43 level, the $0.45 resistance level may be penetrated, Ripple may rise to $0.47 and $0.50.

XRPUSD Price Analysis – October 23

Key levels:

Supply Tiers: $0.45, $0.47, $0.50

Request levels: $0.43, $0.39, $0.36

XRP/USD Price Mid-Term Trend: Bearish

XRP/USD is bearish on the medium-term outlook. After the formation of a bearish chart pattern called a double top, the coin obeyed the command by producing more daily bearish candles. The price declined and tested the $0.43 support level. It pulled back to retest the $0.46 level. Sellers are currently putting more pressure on the coin and there is a trend for further price declines.

At the moment, sellers are dominating the Ripple market as it is trading below the 9 periods EMA and 21 periods EMA. The 14 period of the relative strength index is at 45 levels with the signal lines pointing down indicating a sell signal. A further increase in bear pressure may break the $0.43 support level, in which it may extend to $0.39 and $0.36. If the Bulls interrupt the bears at the $0.43 level, the $0.45 resistance level may be penetrated, Ripple may rise to $0.47 and $0.50.

XRP/USD Short Term Price Trend: Bearish

XRPUSD is bearish on the outlook for the 4-hour period. The coin is trying to break out of the descending channel formed over the past three weeks on the 4-hour time frame. The bearish movement increases as more bearish candles are produced.

XRP price is trading below the 21 period EMA and 9 period EMA, indicating bearish momentum in the Ripple market. The Relative Strength Index period 14 is at 39 levels with the signal lines pointing down to indicate a sell signal.

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