XRP Price Analysis for November 17
Cover image via www.tradingview.com

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Bears are back in the game, according to CoinStats.

XRP chart by CoinStats

XRP/USD

The rate of XRP has fallen by almost 6% over the last day.

Image by TradingView 

On the hourly chart, the rate of XRP might have found a local support level of $0.5906. Now, one should focus on the daily bar closure. 

If it happens far from that mark, there is a chance to see a bounce back to the $0.61 area tomorrow.

Image by TradingView 

On the bigger time frame, the rate of XRP is on its way to the support level of $0.5870. If the price fixes below the $0.60 zone, the accumulated energy might be enough for a breakout, followed by a blast to the $0.55 range.

Image by TradingView 

From the midterm point of view, the price of XRP keeps going down after a false breakout of the previous bar’s peak. In this case, the nearest stop where buyers may again seize the initiative is the support of $0.5491.

XRP is trading at $0.5941 at press time.

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