Ripple Price Slips as a Bearish Outlook Is in View

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Ripple price slips as a bearish outlook is in view. The crypto token has made about a 2.5% drop as a result of the event in Asia. Judging by the actions of the presidential congress, Ripple (XRP) failed to have an effect as a result of President Xi Jinping’s getting a third term.

This, however, did not go well for the market on his re-nomination. Ripple retraces from its gains from the weekend following the fourth coming of this event as Asian stocks had a massive drop, which in turn dragged other asset classes with them.

Key XRP Levels To Watch-October 24

The market may not speak well for the bulls, yet the sellers are now seeing an entry point to sell price orders. The sell traders are aiming to break down beyond the $0.4420 key zone. With more intensity, the price at the momentum will break through and trade lower.

 https://insidebitcoins.com/news/4-best-cryptos-to-buy-now-october-24-cspr-apt-tama-and-impt

The parabolic SAR ( Stop and Reverse) indicator is currently trading against buyers as a selling moment is currently ongoing. The RSI (Relative Strength Index) is also positioned to go lower on the daily chart.

With the sellers’ rating price order, the ripple movement is projected to ride beyond the $0.4420 key zone if the selling moment should increase.

XRP Key Levels

Resistance Levels: $0.5300, $0.4420
Support Levels: $0.4000, $0.3080

Total Market Capitalization: $45B
Ripple Market Capitalization: $22B
Ripple Volume: $1.3B
Market Rank: #6

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.