XRP price action remains bullish although avoiding below $0.45 will be key

XRPUSD 231022 Daily Chart

Technical Indicators

XRP needs to move across the $0.4642 pivot to take a run at the first major resistance level (R1) at $0.4718. With markets awaiting revised public deposits on Monday, optimism for a positive outcome should continue to support a return to $0.47.

In the event of an extended rally, the bulls may rush in at the second major resistance level (R2) at $0.4780 and $0.48. The third major resistance level (R3) is located at $0.4918.

Failure to move through the pivot leaves the first major support level (S1) $0.4580 in play. However, excluding the extended sell off, XRP should avoid below $0.45. The second major support level (S2) at $0.4504 would define the downside. The third major support level (S3) is located at $0.4365.

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