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<p><a href="https://u.today/xrp-traders-making-bullish-bets-as-volume-jumps-40" rel="noopener noreferrer nofollow">XRP</a>, the digital asset associated with Ripple Labs, is <a href="https://twitter.com/100eyesCrypto/status/1703756173621502072" rel="noopener noreferrer nofollow">edging closer</a> to a key price level known as horizontal support.</p> 
<p>At a current price of around $0.505, the cryptocurrency is closely approaching its horizontal support level of $0.51.</p> 
<img src="https://u.today/sites/default/files/inline-images/F6T1NihXUAA2YOI.png" data-entity-uuid="67c67692-a9e4-4d0a-ba40-17e3b8cc7836" data-entity-type="file" alt="https://twitter.com/100eyesCrypto/status/1703756173621502072/photo/1"> 
<p>This technical indicator is significant because it is often seen as a potential turning point for asset prices. If XRP maintains this level, it could signal an impending price rebound.</p> 
<h2 id="potential-recovery">Potential recovery?</h2> 
<p>Horizontal support is a level where a security's price halts and heads back up, suggesting that buyers are more willing to buy at that price point than to let it drop further. In XRP's case, the $0.51 mark serves as that crucial price level. After a positive July with the <a href="https://u.today/bitcoin-etfs-face-new-review-as-sec-revisits-grayscale-ruling" rel="noopener noreferrer nofollow">SEC ruling</a>, XRP saw a loss of momentum and even dipped below the $0.50 mark in September, making the horizontal support level even more significant for its potential recovery.</p> 
<h2 id="top-coins-see-some-green">Top coins see some green</h2> 
<p>It remains to be seen if <a href="https://u.today/xrp-traders-making-bullish-bets-as-volume-jumps-40" rel="noopener noreferrer nofollow">XRP</a> will break through or bounce back since it largely depends on the performance of other altcoins.</p> 
<p>Market data shows a mixed picture for the broader cryptocurrency space. According to <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">CoinGecko</a>, Bitcoin is currently trading at $27,243, with a slight increase of 2.5% over the last week. Ethereum stands at $1,657, up 1.6% for the same period. Other notable cryptocurrencies include BNB, which is priced at $219.42, with a 5.7% increase over the last week.</p>

XRP Price Close to Reaching Critical Horizontal Support

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