The top 10 cryptocurrencies have not changed their positions a lot over the last 24 hours. The situation is diverse as neither buyers nor sellers are dominating the market. Binance Coin (BNB) is the ’biggest’ gainer today with its price increasing by 1.34%.
Even though there is plenty of fundamental news about XRP, it cannot help the coin to start the bullish trend.
Market Cap: $11 864 411 034
Volume (24h): $1 340 973 027
Change (24h): -0.26%
The data is relevant at the press time.
XRP/USD: Any Ways to Reach $0.30 Sooner or Later?
The sell-off continued, so the likelihood of achieving the support at $0.265 increases in the nearest future.
On the 1H chart, XRP is moving to the oversold zone, according to the RSI indicator. The Bolinger Bands (BBs) indicator also confirms one more drop before a potential bounce. The last candle has a long wick, which usually means that buyers are too weak to start a new bullish trend.
To sum up, XRP might get to $0.27 very soon.
In terms of the long-term projection, the ongoing drop might continue, but the price will not decline so much. The strong support XRP tested on Oct. 23 is at $0.2665. Thus, the level of selling volume has been slightly going down since the beginning of November.
It signals that sellers have already fixed their positions and buyers will seize their opportunity shortly. All in all, XRP will bounce off the $0.2665 area during the second part of November.
XRP is trading at $0.2752 at press time.