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XRP is down 5%, falling as the crypto markets pull back.&nbsp;While the dip can be a concern, some view it as an opportunity to consider the coin and other altcoins, including Bitcoin Minetrix (BTCMTX).&nbsp; 
Experts are bullish on BTCMTX, expecting the token to extend gains once the presale ends.&nbsp; 
<h2 class="wp-block-heading" id="strong-xrp-is-pulling-back-as-investors-take-profits-strong">XRP is pulling back as investors take profits</h2> 
On the last day, XRP retraced and is moving back towards the $0.60 mark as investors appear to be taking profits. 
Early this week, XRP surged above $0.71 before cooling off to spot rates. Thus far, the sell-off is below the daily chart’s 20-day exponential moving average (EMA). 
 You might also like: <a href="https://crypto.news/analyst-says-xrp-may-see-huge-boost-in-coming-days/"> Analyst says XRP may see huge boost in coming days </a> 
If XRP remains below this EMA, the next support level is at $0.60, which prevented the token’s price from falling further in the first week of November. However, if XRP recovers from spot rates, it could recover losses suffered in the past few days. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/G6yFh7F7fr5X-rgdR5iZP7gdUfj5yeczjE2eSF7enhY3LZd7yIuKJ_k_vHwSmZATkHeAPScbGty4L6D8qd0nT1LV0ToLRQiv8DXDo_6UQjQw42TN-Qh_eEMpr2U4ckwIQnsZLy_oT9RYPOKe8Qd-Sn8" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 32">
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According to CoinMarketCap,&nbsp;<a target="_blank" href="https://coinmarketcap.com/currencies/xrp/" rel="noreferrer noopener">XRP trading volume</a>&nbsp;is up 8%, making it the ninth most-traded coin globally.&nbsp; 
The spike in participation suggests that despite the recent pullback, there is still considerable interest in XRP. 
<h2 class="wp-block-heading" id="strong-spot-bitcoin-etf-delays-dampen-market-sentiment-strong">Spot Bitcoin ETF delays dampen market sentiment</h2> 
The crypto market is retracing after sharp gains in early November. Bitcoin (BTC) and Ethereum (ETH) are currently below $37,000 and $2,000, respectively. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/RMulHukd0OrwD9-DxzMkwgk2_e0zY2kU0dn8YCrVb3FyXyTRrH-9a9m8DnADQXRho7RSDiKwvB08f37kIyHn_WvlZ0cpJ_imjxFI-y5_hbu4vdxyDoM4aePXLK1Gu0rEW2DRXVhNqVcBd3Ep6xZ-_3I" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 33">
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The retracement could be due to delays and uncertainties related to the approval of a spot Bitcoin exchange-traded fund (ETF) in the <a href="https://crypto.news/gate-io-secures-regulatory-license-to-operate-in-the-united-states/" data-type="post" data-id="14102479">United States</a>. 
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Investors were anticipating the United States Securities and Exchange Commission’s (SEC)approval of a Bitcoin ETF by now. Potential&nbsp;<a target="_blank" href="https://www.ccn.com/news/bitcoin-etf-delay-grayscale-sec/" rel="noreferrer noopener">legal action</a>&nbsp;from Grayscale over the rejection of its GBTC conversion could also create obstacles. 
The SEC is still working with ETF applicants despite some delays. This suggests that the vetting process is still moving forward. 
However, because of the longer timeline, short-term sentiment has been negatively impacted, and crypto prices may remain stagnant until there is more clarity on when a spot Bitcoin ETF will be authorized. 
<h2 class="wp-block-heading" id="strong-stake-to-mine-project-bitcoin-minetrix-raises-4-1m-strong">Stake-to-mine project, Bitcoin Minetrix, raises $4.1m</h2> 
<a target="_blank" href="https://bs_b96bd0a7.crypto-news.care/" rel="noreferrer noopener">Bitcoin Minetrix</a>&nbsp;appears resilient despite the near-term challenges the broader crypto market faces.&nbsp; 
The platform supports a stake-to-mine model for users to earn mining rewards when they stake instead of buying expensive hardware. 
 You might also like: <a href="https://crypto.news/ada-to-hit-0-90-within-six-months-analyst/"> ADA to hit $0.90 within six months: analyst </a> 
Bitcoin Minetrix allows users to stake BTCMTX, its native ERC-20 token, in exchange for mining credits, which can be redeemed for access to Bitcoin cloud mining power or a portion of mining yields. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/rxWMast2VVr9cP-AkP2ZYpWG8M1ovoGBnqOkuDoywkBD4H8T_qHF-399iCQdDIxjazJcZdVvRZNUrUOsD7Dz4HEUr6FtL3REuQ8goQ2z1vUu47MebZh09wy0Z3AuDLBbL96CR-xhPpa7QUvy2g9XvQk" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 34">
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So far, Bitcoin Minetrix has over 5,100 followers on&nbsp;<a target="_blank" href="https://t.me/bitcoinminetrix" rel="noreferrer noopener">Telegram</a>. Additionally, it has raised over $4.1 million in the ongoing presale.&nbsp; 
The project developer plans to list BTCMTX on exchanges after the presale ends. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/Bv8S0Z0CrT7xMNsxwPX0vSxjXgix96Uuv1Qb7XKLPdOUPXYR3Rjtn9GxhsrvxGQRTIEMAqkusNpCTv_gWeAHQjmdS-eOUY28ftM0d3Wuz2FbtpHjza5rD8Y8N2IvraLZqAI7NWqd6jDQd6cGKcMmiCs" alt="XRP drops 5% as prices slump; analysts focus on new altcoin - 35">
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YouTube analyst Austin Hilton is bullish on Bitcoin Minetrix, especially its value proposition.&nbsp; 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Unveiling This Hidden Crypto Gem! Discover the Ultimate Altcoin Now!" width="1020" height="574" src="https://www.youtube.com/embed/FoCg8fE_YXg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
He notes that the project aims to address key pain points related to mining accessibility and profitability ahead of the <a href="https://crypto.news/bitcoin-halving-to-reduce-miner-revenue-by-50-glassnode/" data-type="post" data-id="14215074">Bitcoin halving</a> event. 
<a href="https://bs_b96bd0a7.crypto-news.care/" target="_blank" rel="noreferrer noopener">Visit the Bitcoin Minetrix presale</a> 
 Read more: <a href="https://crypto.news/yearn-finances-yfi-token-skyrockets-on-upcoming-v3-launch-news/"> Yearn.Finance’s YFI token skyrockets on upcoming v3 launch news </a> 
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XRP drops 5% as prices slump; analysts focus on new altcoin

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