The XRP Coin price has once again dropped below $0.7, and BTC has lost $35,000 for now. So, what’s next? We are used to these kinds of pauses after rapid rises, and there is not much need to confirm that the price has returned to a downward trend. In other words, the continuation of the rise in XRP Coin and BTC prices already seems likely.
XRP Coin Comments
In previous evaluations, we mentioned that the upward movement of XRP Coin price would continue and that possible pullbacks to $0.55 could be buying opportunities. However, due to the event on November 8-9 and BTC’s continued hovering around $35,000, this pullback did not occur.
A few days ago, the $0.585 support level was tested, and the price received a bounce from there. Indicators such as On-Balance Volume (OBV) and RSI still support the upward expectation with the recent rise. Coinglass data confirms the sentiment of a rise in the futures market and the size of open positions is increasing.
According to Santiment data, the average age of coins is also increasing, indicating that investors may continue to avoid selling.
XRP Coin Price Prediction
Turning to the technical side, closing above $0.578 will allow the price to continue oscillating within the uptrend range. Although a significant portion of the gains from November 6 has been erased on the daily chart, the long tail on the candlestick indicates that lower levels could not be sustained. In the short term, to sustain the momentum of the rise, the support level at $0.663, which is the peak of November 5, will need to be maintained.
If there are closures below this level, we may see a new drop to $0.62 and $0.6. The strong resistance in this area was at $0.64, and after many attempts, it was eventually surpassed as it is an important cost zone for a significant amount of tokens. In the event of a decline scenario, rapid selling from this zone may lead to panic.
However, investors need to know that XRP Coin is in a more credible range than the August rally. If BTC returns from the last support test and targets $36,000 again, the XRP Coin price could reach $0.85 and $0.94 after $0.74.
