FX.co ★ Short-term technical analysis on XRPUSD for October 13th, 2023.

Green line- support trend line

Blue lines- bearish channel

After breaking below the green upward sloping support trend line at $0.5150, XRPUSD has changed short-term trend to bearish and has started making lower lows and lower highs inside the blue downward sloping channel. Short-term resistance by the blue channel is found at $0.4920. Price is moving lower approaching our $0.46 target area. Bears remain in control of the near term trend. The RSI has just provided a bullish divergence but this is not a reversal signal. Only a warning. XRPUSD could continue moving lower towards the lower channel boundary at $0.4650.