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XRP Price Analysis for November 1

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Tue, 1/11/2022 - 15:15
XRP Price Analysis for November 1
Cover image via www.tradingview.com

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The market seems not to know which way to go as the rates of some coins are rising, while others are falling.

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XRP/USD

The rate of XRP has risen by 0.60% over the last 24 hours.

XRP/USD chart by TradingView

On the hourly chart, XRP is returning to the recently formed support level at $0.4545. If the volatility falls and bulls do not seize the initiative, one can expect the price to fall to the $0.45 zone.

XRP/USD chart by TradingView

On the daily chart, the situation is unchanged as the price keeps trading sideways, accumulating power for a further move.

Related
BTC and ETH Price Analysis for October 31

If the drop continues today, traders might see a sharp move to the nearest support level at $0.44 by mid-November.

XRP/BTC chart by TradingView

Analyzing the chart of XRP against Bitcoin (BTC), XRP does not seem ready to keep the growth going after yesterday's bullish candle. If the bar closes around the BTC 0.000022 mark, that might be a prerequisite for a downward move to the BTC 0.000020 area.

XRP is trading at $0.4572 at press time.

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