Cryptocurrency

Ripple hits resistance at $0.263 even as other altcoins surge

XRP reached $0.263 in intraday trading on October 23, breaking above an ascending triangle that had held prices down since mid-August, when the token dropped from $0.33. The breakout gave buyers momen

By James Gray··1 min read
Ripple hits resistance at $0.263 even as other altcoins surge

Key Points

  • XRP reached $0.263 in intraday trading on October 23, breaking above an ascending triangle that had held prices down since mid-August, when the token dropped from $0.33.
  • The breakout gave buyers momen

XRP reached $0.263 in intraday trading on October 23, breaking above an ascending triangle that had held prices down since mid-August, when the token dropped from $0.33. The breakout gave buyers momentum, but the gain didn't hold. Prices fell back below the triangle pattern.

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The technical setup supports bulls, though confirmation requires the price to close above the broken pattern. XRP trades near its 100-day moving average, where support has formed around $0.254. The MACD flashed a hidden bullish divergence. The RSI climbed, indicating that buying pressure persists. If buyers keep XRP above the 100-day moving average, they could push the token toward August's $0.30 highs. A drop below that moving average would expose XRP to a bearish reversal toward the lower edge of the triangle.

Bitcoin's movement will determine whether XRP rallies further. One analyst flagged a critical support zone for BTC/USD at $12,750 to $12,800. If Bitcoin holds that level, it could advance toward $13,500. A drop below exposes Bitcoin to declines toward $12,200, with deeper losses to $11,900 possible if selling accelerates.

The 4-hour timeframe shows tight, choppy action, with higher lows and lower highs forming over the past five hours. The RSI still favors buyers, though turning lower would shift control to sellers. The 1-hour chart shows similar compressed conditions.

Watch these support levels: the 50-day moving average on the daily at $0.245, the 100-day moving average on the 4-hour at $0.251, and the 200-day moving average on the 4-hour at $0.246.

MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.

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