Coin

<ul class="news-points"> 
 <li>XRP dropped to $0.65 as selling momentum began to outweigh buying pressure.</li> 
 <li>Exchange inflow increased while OBV fell, suggesting a drawdown to $0.60</li> 
 <li>Traders should be wary of opening long positions considering the current profit-taking in the market.</li> 
</ul> 
At the expense of its holders, the price of <a href="https://coinedition.com/market-veteran-says-xrp-now-faces-lollapalooza-effect-predicts-90/">Ripple (XRP)</a> has dropped to $0.65. This decrease represents a 9.72% fall in the last seven days, considering that the token hit $0.72 on November 7. The recent price action is in line with the cooling period a lot of altcoins are having. 
From the XRP/USD 4-hour chart, there has been a surge in profit-taking as the price fell from $0.67 on November 12. Also, the bulls have been unable to defend the $0.66 support level. One of the reasons for this decline could be linked to the decreasing interest in XRP, as indicated by the trading volume.&nbsp; 
So, traders may need to refrain from opening long positions because a decreasing volume, alongside a falling price, is an indication that XRP may not have hit a local bottom yet. Furthermore, the Relative Strength Index (RSI) had fallen below the 50.00 midpoint. 
<h2 class="wp-block-heading" id="h-buyers-look-the-other-way">Buyers Look the Other Way</h2> 
The RSI reading here indicates that th…
The post <a href="https://coinedition.com/xrp-price-analysis-why-a-ride-down-to-0-60-is-possible/">XRP Price Analysis: Why a Ride Down to $0.60 Is Possible</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

XRP Price Analysis: Why a Ride Down to $0.60 Is Possible

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