Back

XRP Price Analysis for October 27

Can XRP show as sharp growth as Bitcoin (BTC)?

article image
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market is not trading in one direction as some coins keep rising while others have already entered the correction phase. Most of the cryptocurrencies are in the red zone; however, there are exceptions to the rule, such as Polkadot. The altcoin has grown by 7.39% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Despite the uncertainty on the market, the capitalization index has risen by around $5 bln over the last day.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data of XRP for today:

Ads
Ads

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $11,450,207,259

  • Price: $0.252953

  • Volume (24h): $2,590,381,479

  • Change (24h): -0.61%

The data is relevant at press time.

XRP/USD: Can the $0.26 mark be retested soon?

Yesterday morning, the bulls were unable to form a powerful impetus due to the overheating of the market. By the middle of the day, the pair rolled back below the EMA55 level and, in the evening, the pullback stopped at the POC line ($0.242).

XRP/USD chart by TradingView
XRP/USD chart by TradingView

The Stoch RSI indicator lines left the overbought zone and entered the neutral zone. If buyers do not take active steps to restore the pair to the upper border of the wide sideways range ($0.260), then the decline will continue to support $0.230.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, XRP keeps trading in the range of $0.24-$0.26, accumulating for a sharp move. Buyers' power has not ended yet, which means that a rise is more likely than a drop.

👉 MUST READ BTC, ETH and XRP Price Analysis for October 25related article image

In this regard, traders may retest the resistance at $0.26 within the next few days; however, a further rise is in question as the liquidity is quite low.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the longer time frame, XRP is located in the sideways trend at the moment. The trading volume is at a medium level, meaning that neither bears nor bulls are dominating. However, in the long-term perspective, there is a high chance of seeing a false breakout of the $0.285 zone before a more profound correction starts.

XRP is trading at $0.2524 at press time.

 

Join our Telegram channel to get news even faster!

article writer image
Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com