Oct 17, 2022

VOT Research Desk

Since September 23, ripple pricing has created two higher highs and two higher lows. It is presently retesting the upper boundary of the $0.331 to $0.464 support area.

A rebound is likely as long as the purchasers maintain current positive market structure.

The further movement may result in a higher high and a potential retest of the $0.561 to $0.596 resistance region.

This surge would represent a 20% increase, but investors must monitor the price of Bitcoin to verify the trend.

Ripple’s price is improving, but the bullish market structure won’t hold if there is a sudden increase in selling pressure that drives XRP below the swing low of $0.437 set on October 3.

A retest of the $0.381 to $0.433 demand zone, however, will signal a slowing of the negative trend for investors.

Oct, 12 2022

VOT Research Desk

After last week’s gain, the price of ripple has fallen and is now just above an ascending trend line linking the higher lows produced since September 21.

Additionally, it is now trading around $0.490, the level with the biggest amount of trades since September 15, below the Point of Control.

The bears are in charge and are likely to breach below the descending trend line described above until Ripple price flips $0.490 into a support floor.

This is a negative event that might lead to another sell-off that would drive down the price of XRP by 10% to $0.440.

Investors should anticipate a little rally to grab the Fair Value Gap (FVG) to the upside at $0.516 even though the overall forecast for the Ripple price remains unfavorable. The $0.538 barrier would become a support floor if this run-up continues and the bearish argument would be proven false.

Oct 10, 2022

VOT Research Desk

The inverse head-and-shoulders goal for Ripple price is $0.5440, as was discussed in the last article. The remittance token is anticipated to retrace to $0.4980 and correct the imbalance there after a 13% rise and rejection at $0.5380.

The crypto currency should be able to go to $0.5990, the midpoint of the $0.2860 to $0.9120 range, with a rebound from its present price. When the price of XRP fell 69% between late March and mid-June, this range was created.

Therefore, a mean reversion move that would drive Ripple price to $0.5990 or nearly $0.6000 would make plausible if there was an increase in purchasing demand following a brief dip.

Despite the fact that the price of Ripple is improving, the bullish thesis would be destroyed if it broke beyond $0.4791. In this scenario, the price of XRP can drop by 8% and retest the $0.4400 support level.