XRP Price Analysis for November 2
Bulls could not hold the initiative for long as most of the coins are back in the red zone.
The price of XRP has declined by 0.15% over the last 24 hours.
On the hourly chart, XRP has bounced off the formed support level at $0.4512 against the increased volume. If the rise continues to the middle of the channel ($0.46), the upward move may continue tomorrow.
On the daily chart, XRP starts looking bearish even though the rate is still in the middle of the channel. If the candle closes below the $0.45 mark, the accumulated energy might be enough for a move to the support level at $0.45512 at press time.
XRP is losing power against Bitcoin (BTC) as the rate has almost come back to the support level at BTC 0.000022. If nothing crucial happens until the end of the day, the breakout might lead to a sharp drop to the zone of BTC 0.000020 until mid-November.
XRP is trading at $0.4552 at press time.
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