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XRP (XRPUSD) Sellers Are Holding Back

Johnathon Fox
10/25/2023 | UPDATED ON: 10/25/2023

XRP (XRPUSD) Price Forecast: October 25
The XRPUSD sellers are holding back as the price remains bullish and also looks good for the long investors at the present. The coin is facing high pressure from the bulls. Thus, a sharp breakout and closure above the current correction phase at the $0.53550 high value will invalidate any bearish thesis and the price might hit the high at the$0.54000 resistance level and beyond.

Key Levels:
Resistance Levels: $0.70000, $0.8000, $0.9000
Support Levels: $0.5000, $0.40000, $0.3000
XRP (XRPUSD) Sellers Are Holding Back
XRP (USD) Long-term Trend: Bullish (Daily Chart)
XRP portrays a bullish market trend as sellers are holding back in its long-term outlook. The price responded to the shift in the market structure and is currently above the moving averages.

The pressure from the bulls to the $0.52424 supply value during yesterday’s session has sustained the coin price above the supply trend levels in its recent high.

Today, the buy investors made a rally upwards to a $0.53550 resistance level above the EMA-50; this implies an uptrend and also shows that sellers are holding back on the coin. Thus, more upsides are possible as buyers are seen clustered around the market presently.

Thus, with sustained buying, the price may likely test the supply strength of the $0.94799 level and set the potential for further growth.

In addition, under the influence of this market level, the price of XRPUSD could rise steadily soon and break up the previous high of $0.94799 level to reach the $1.00000 resistance level sooner as we watch the crypto market turns strongly bullish in the long-term perspective.

XRP (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term outlook, prices of XRP are above the moving average line and have confirmed a bullish momentum indicating that sellers are holding back on the coin. Thus, the recent market structure has favored the bulls.
XRP (XRPUSD) Sellers Are Holding Back
The coin has been having a series of higher highs and higher lows from the past session which has made it possible for the bulls to retain the strength in its recent high.

The bulls made a correction at the $0.53550 supply value above the EMA-50 as the 4-hourly chart resumes today. This will actually encourage the buy traders to invest in the crypto, as possible future gains are certain.

Thus, a possible breakout from the current retracement at the $0.53550 neckline will accelerate the buying momentum and push the prices higher to hit the $0.53903 previous resistance level.

Additionally, there is a possibility of a bullish breakout if the bulls should add more effort to their tension in the market as the daily stochastic signal points in an upward direction; this indicates an uptrend and a bullish trend continuation.

As a result of this, the next target could be the $1.00000 high trend mark soon as sellers continue to hold back in the medium-term perspective.

Buy XRP on eToro

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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.

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