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XRP (XRPUSD) Price Could See an Uptrend Soon

Johnathon Fox
10/13/2023 | UPDATED ON: 10/13/2023

XRP (XRPUSD) Price Forecast: October 13
The XRPUSD price could see an uptrend after completing the downward move. The crypto may turn to the upside, if the bulls could increase their buying motives and all the support level holds in place. The coin might further climb up to retest its previous high of $0.947 mark resulting in an opportunity for the buying traders.

Key Levels:
Resistance Levels: $0.700, $0.800, $0.900
Support Levels: $0.400, $0.300, $0.200

XRP (USD) Long-term Trend: Bearish (Daily Chart)
The XRPUSD pair is trading in the bearish trend market in its long-term outlook. The price bar can be seen below the moving average lines and has confirmed its bearishness. However, the crypto could see an uptrend soon as the market has reached the oversold region.
XRP (XRPUSD) Price Could See an Uptrend Soon
The interference of short-term traders to the $0.491 low level in the previous action also contributed to its bearish momentum in its recent low.

Actions from the short traders further drop the XRP price to a $0.481 low value below the EMA-50 as the daily chart opens today. Thus, the coin price could see an uptrend and advance further if the bulls can redouble their efforts and push above the current supply level.

With the overall market trend still bearish, the XRPUSD price is likely to plunge higher and retest the high accumulation zone of $0.947 value.

In continuation, the crypto price now approaches the oversold region of the daily stochastic, this suggests that the selling pressure will end soon and the XRP price could see an uptrend which may lead the coin price to a $1.000 resistance level in its higher time frame.

XRP (USD) Medium-term Trend: Bearish (4H Chart)
The XRPUSD market indicates a downward trend with a bearish sentiment in its long-term perspective. The coin is trading below the EMA. However, the market could see an uptrend soon as the price is presently facing resistance at the recent low.
XRP (XRPUSD) Price Could See an Uptrend Soon
The existence of sellers in the market inflows to a $0.491 low value in the previous action has led to the crypto price below the supply trend lines in its recent price level.

The coin reacted to the market activities and currently trades in a green candle at the $0.488 correction mark below the EMA-50 to open the 4-hour chart today. Doing so will offer a higher footing for buyers to prolong this recovery.

Hence, with the price of XRPUSD pointing upwards on the daily stochastic means that a further uptrend move is certain. It is therefore expected that the buy investors will move the price action up and may likely hit the $1.000 supply level soon in its medium-term time frame.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « Dash 2 Trade (D2T/USD) Maintains Focus on $0.0055 Amidst Sustained Bullish Momentum
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