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XRP and BNB Price Analysis for November 7

Mon, 11/07/2022 - 22:00
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Denys Serhiichuk
Have XRP and Binance Coin entered bearish zone yet?
XRP and BNB Price Analysis for November 7
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Most of the coins could not start the week with a rise.

Top coins by CoinMarketCap

XRP/USD

The rate of XRP has declined by 3.30% over the last 24 hours.

XRP/USD chart by TradingView

On the daily chart, XRP has come back to the bearish trend as the rate is below the $0.48211 mark. At the moment, one needs to pay close attention to the $0.46 level. If the price comes back to it, the accumulated energy might be enough for a move to the support level at $0.4380.

Related
DOGE and SHIB Price Analysis for November 6

Such a scenario is relevant until the end of the week.

XRP is trading at $0.4714 at press time.

BNB/USD

Binance Coin is a much bigger loser than XRP, going down by 6%.

BNB/USD chart by TradingView

From the technical point of view, Binance Coin (BNB) is trading similarly to XRP as the price has also returned to the bearish area. If the rate does not come back to the $336 mark shortly, the fall may continue to the $310 zone very soon.

BNB is trading at $328.3 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.