XRP Price Analysis for November 17

• The rate of XRP has fallen by almost 6% in the last day.
• On the hourly chart, XRP has found a local support level of $0.5906.
• If the daily bar closure happens far from that mark, there is a chance for a bounce back to the $0.61 area tomorrow.
• On the bigger time frame, XRP is on its way to the support level of $0.5870.
• If the price fixes below the $0.60 zone, there might be enough energy for a breakout to the $0.55 range.
• From a midterm perspective, XRP is continuing to decline after a false breakout of the previous bar's peak.
• The nearest stop where buyers may seize the initiative is the support of $0.5491.
• XRP is currently trading at $0.5941.

The sentiment of the article is bearish, as it highlights the decline in the rate of XRP and the possibility of further downside movement.