XRP Price Analysis for November 17
How long may correction of XRP last?...
- 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.
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The sentiment of the article is bearish, as it highlights the decline in the rate of XRP and the possibility of further downside movement.