XRP Price Analysis for November 17


17 Nov 2023 6:00 PM

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.

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

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You May Ask

What is the current rate of XRP?What is the local support level for XRP on the hourly chart?What is the potential bounce back area for XRP tomorrow?What is the support level that XRP is approaching on the bigger time frame?What is the nearest stop where buyers may seize the initiative for XRP?

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