XRP Coin Price Predictions for October: Will it Reach $1? - COINTURK NEWS
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XRP Coin Price Predictions for October: Will it Reach $1?

3:08 am (35 days ago)
October 28, 2023

The price of BTC dropped to the $33,500 region a few hours after reaching $2,000 Gold. This was not a good development for altcoins. The fluctuations in the king cryptocurrency significantly affect the rest of the market. So what are the price levels to watch for XRP Coin investors until the end of October?

Ripple (XRP)

XRP Coin‘s readings on the weekly chart indicate that the rising trend line continues to be maintained. The trend line, which has been tested many times, was visited again in the first week of October. It is normal to see upward reactions from these price zones, and that’s what happened. The bullish candle gave the news that it would reverse the previous decline.

After the altcoin troubled by SEC, it then jumped to $0.586. Although it is a good coincidence that the latest development in the Ripple case coincides with the rise of BTC, XRP could not show the expected performance. Breaking $0.55 is not enough for now, and if the weekly closing is above this region, optimism may increase.

So why couldn’t the price of XRP reach $1 while BTC was rising and the charges against Ripple executives were dropped? This is because there was an expectation that the mass appeals, expected to be concluded around 2026 or 2027, would end earlier. If the SEC succeeds in the appeal, the gains in the summary judgment of July would have evaporated.

The fact that it is SEC’s turn, and the knowledge that the regulatory agency will not give up easily, seems to explain the reluctance towards higher levels on the technical front.

XRP Coin Price Analysis

So what are the possible price levels until the end of October? Firstly, although the next resistance is not surpassed on the weekly chart, the direction is upward and supported by RSI. On the daily chart, there are details that increase hopes for a weekly closing above $0.55. First of all, the XRP Coin price broke the declining resistance trend line, indicating the end of this last decline, which is a strong sign.

Secondly, the $0.53 resistance, which has been challenging bulls since August, has been overcome. Let the uncertainty on the fundamental side stay in the back of our minds, but this current situation does not mean that it is negative if the price has not risen as desired. And we should not forget that RSI is increasing.

If the upward movement continues, we may see the price climb to $0.68 and $0.74 by the end of the month. However, a daily closing below $0.53 and the negativity in the fundamental analysis could trigger a drop to $0.43.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore risk of cryptocurrencies and should conduct their own research before making transactions.

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