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   Oct 27, 2023 at 08:08 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/7c1/900_900_1/7skxr2ucmysy7no4u0qissn0u3o96kl1.jpg" width="900" height="563" alt="Ripple has returned to its previous price range" title="">
 <p><strong>The latest price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com report, Ripple (XRP) returns after reaching the overbought level at $0.58.</strong></p>
 <h2 style="text-align: justify;" id="xrp-price-long-term-forecast-bullish">XRP price long-term forecast: bullish</h2>
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 <p style="text-align: justify;">The long wick of the candle indicates significant selling pressure in the overbought zone of the market. Nevertheless, further XRP gains are speculative. As a result, the cryptocurrency value is bearish. At the time of writing, XRP/USD is trading at $0.55087. If the bears drop below the $0.55 support, the altcoin could fall back to the previous range zone.</p>
 <p style="text-align: justify;">The current support level will become a resistance level if the bears break it. Since August 17, the cryptocurrency has been trading in a narrow range between $0.45 and $0.55. The altcoin could fall even further if it loses its current support level. The positive trend will continue if the current support level holds.</p>
 <h2 style="text-align: justify;" id="xrp-indicator-analysis">XRP indicator analysis</h2>
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 <p style="text-align: justify;">XRP price bars are still above the moving average lines after a minor retracement. The moving average lines are horizontally flat as the cryptocurrency continues its movement within a certain range. The moving average lines in the lower time frame are sloping upwards, indicating the previous uptrend.</p>
 <p style="text-align: justify;"><img width="988" alt="XRPUSD_(Daily Chart) – OCT. 27.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/27/b083cf6ac26ad5ecd85648b4e1fcb2b6.webp" height="581" title="XRPUSD_(Daily Chart) – OCT. 27.23.jpg"><br></p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
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 <p style="text-align: justify;"><b>Key resistance levels – $0.80 and $1.00 </b></p>
 <p style="text-align: justify;"><b> </b></p>
 <p style="text-align: justify;"><b> Key support levels – $0.40 and $0.20</b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-xrp">What is the next move for XRP?</h2>
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 <p style="text-align: justify;">The XRP price has fallen below the 21-day SMA on the 4-hour chart and could fall further to the 50-day SMA. Before the recent plunge, buyers tried desperately to keep XRP above the $0.56 high but were beaten back. The cryptocurrency has returned to its previous price range of $0.45 to $0.55.</p>
 <p style="text-align: justify;"><img width="988" alt="XRPUSD_ (4 Hour Chart) – OCT. 27,23.jpg" src="https://cdn.thebittimes.com/images/2023/10/27/b7c3c890644432e03b0c0290c366be49.webp" height="581" title="XRPUSD_ (4 Hour Chart) – OCT. 27,23.jpg"><br></p>
 <p style="text-align: justify;">As we reported on October 21, the altcoin reached a high of $0.53. The current positive momentum is expected to reach a high of $0.56, but will face resistance at a high of $0.55.&nbsp;</p>
 <p style="text-align: justify;"><i><span style="color: #a0a0a0;"><b>Disclaimer.</b>&nbsp;This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing&nbsp;in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-encounters-rejection-and-returns-to-the-range-below-0-55-tbt68066.html">https://thebittimes.com/ripple-encounters-rejection-and-returns-to-the-range-below-0-55-tbt68066.html</a></p>

Ripple Encounters Rejection And Returns To The Range Below $0.55

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TheBitTimes

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