XRP Price Analysis for November 6

Some coins are trying to come back to the green zone, according to CoinStats.

XRP/USD

The price of XRP has increased by 1.87% over the last day.

On the hourly chart, the rate of XRP is looking bearish. If a breakout of the local support of $2.277 happens, the fall is likely to continue to the $2.25 mark.

On the longer time frame, none of the sides is dominating as the price is far from main levels. In this case, traders are unlikely to witness sharp moves soon.

In this case, sideways trading in the range of $2.25-$2.40 is the most likely scenario.

From the midterm point of view, the rate of XRP is going down after a failed attempt to fix above the $2.6624 mark. However, if the weekly bar closes far from its candle low, buyers may seize the initiative, which could lead to a bounce off to the $2.50 area.

XRP is trading at $2.2897 at press time.