Momentum

<ul>
 <li><strong>The price spiked all the way till $0.50 level post the recent false news incident.</strong></li>
 <li><strong>If the price breaks above $0.50, then it will likely rally all the way till the $0.52 resistance area.</strong></li>
</ul>
<p>On October 16th, <a href="https://thenewscrypto.com/whale-moves-11-5-million-ripple-xrp-to-exchange-amid-ongoing-transfers/" rel="noopener noreferrer nofollow">Ripple</a> posted a new job listing for a senior manager of shareholder communications in numerous locations throughout the world. Many cryptocurrency investors saw the job listing as a sign that the business was preparing to go public.</p>
<p>Moreover, the market activity on Tuesday shook up holders of <a href="https://thenewscrypto.com/struggle-continues-for-xrp-price-further-decline-likely/" rel="noopener noreferrer nofollow">XRP</a>. A large holder of XRP (a “whale”) moved over 410 million XRP (worth around $201 million) to a different wallet. The impact of traders and investors reacting to the significant fake ETF approval announcement resulted in sales that might set off this action.</p>
<p>BitPay, a well-known cryptocurrency payment service, has introduced a new connection that will let Xsolla players utilize XRP. The introduction of this update is a major step forward for the broad use of digital currencies, especially XRP in the gaming industry. Addition of XRP brings forth a significant push in already proactive use cases for the token.</p>
<h3 class="wp-block-heading" id="h-bears-in-control">Bears in Control</h3>
<p>At the time of writing, XRP is trading at $0.4917, down 0.58% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 55.23%. The price spiked all the way till $0.50 post the recent false ETF news incident. However, the price could not maintain the momentum and dropped drastically.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="660" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/10/XRP_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-84015" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/XRP_7D_graph_coinmarketcap-2.png 660w, https://thenewscrypto.com/wp-content/uploads/2023/10/XRP_7D_graph_coinmarketcap-2-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/XRP_7D_graph_coinmarketcap-2-150x81.png 150w" sizes="(max-width: 660px) 100vw, 660px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>The price will likely test $0.489 support level. Breaching below this level will likely take the price all the way till $0.476 mark. However, if the price breaks above $0.50 resistance level, then it will likely rally all the way till $0.52 resistance area.</p>

XRP Price Fails To Capitalize on Recent Bullish Momentum

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TheNewsCrypto

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