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XRP Daily Trading Signals: 31 October

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Dominant bias for XRP – Ranging

Resistance Levels- $0.6000 $0.6500, $0.7000

Support Level-$0.3500, $0.3000. $0.2500

XRP continues in a range-bound market in the medium term outlook. $0.4534 in the support area was the high the bulls could take the cryptocurrency while $0.4438 in the support area was the low the bears dropped XRP.

 

XRP 4-hour chart
XRP 4-hour chart

 

The 4-hour opening candle at $0.4472 was bearish though higher than yesterday opening price at 4456. The implication of this is that more buyers are present in the market

The stochastic oscillator is at 32 %, with its signal undefined but in a parallel line an indication of the ranging scenario.

XRPUSD is in consolidation and trading between $0.4800 in the upper resistance area and at $0.4450 in the lower support area of the range. Traders should be patient at this period and allow a breakout at the upper resistance area or breakdown at the lower support area before taking a position with good reversal candlestick pattern that confirms the direction.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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