Prime XBT App
Prime XBT App
Download and Trade Now!

Daily Technical Analysis Research 17.10.2024 – Cryptocurrency (RIPPLE)

RIPPLE (XRP/USD):

Ripple is another major Altcoin that has yet to show any significant movement in this cycle. I’ll be watching closely to see how the price responds to the internal ascending trend line. Currently trading just above $0.55, it doesn’t seem to be gaining any notable upward momentum at the moment.

Daily Technical Analysis Research 17.10.2024 - Cryptocurrency (RIPPLE) - Screenshot 2024 10 17 at 15.46.51 1024x630
A closer look at the technicals shows that the price action is currently aligned with this internal support area, which also corresponds well with the 50% level on the Fibonacci tool. The RSI indicator isn’t signalling  that the price is either overbought or oversold, as it remains flat and in line with the 50% level.

Daily Technical Analysis Research 17.10.2024 - Cryptocurrency (RIPPLE) - Screenshot 2024 10 17 at 15.46.58 1024x626

Author

Matthew Hayward
Matthew is a well-experienced Market Analyst with a key focus on both Fundamental and Technical Analysis. He has experience in covering various market topics including Cryptocurrency, Foreign Exchange, Indices, and Commodities. He looks to provide we...
Read author’s articles
Alert Triangle Risk Disclaimer
Disclaimer: The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.

Ready to put your insights into action?

Receive the latest news and stay informed.

Start Trading Start Trading
Start Trading

Need Help?

Risk Warning:
Trading in leveraged products carries a high level of risk and may not be suitable for all investors.