- XRP’s pricing has become bearish below the $1.10 mark.
- The XRP price looks to be fading.
The drop came less than a week after Bitcoin hit a record high of nearly $69,000, wiping out billions. BTC recovered some value after falling below $60K but just lost it again, and it is now selling for $59K. The top coins dropped around 10% of their value overnight on Monday and again on Thursday, following Bitcoin‘s lead.
XRP’s pricing has become bearish below the $1.10 mark, and it even went over the $1.05 barrier. However, it is again consolidating towards $1.06. Falls might drive the price back around $0.920. However, the SEC’s action will inhibit future innovators, but sound crypto legislation will provide the framework for the sector to prosper.
XRP whales, considered to be absent, have slowly begun to emerge. Just yesterday, a whale moved approximately $12.7 million in XRP tokens from the medium-tier CoinOne exchange to an undisclosed wallet. Like previous times, the price of XRP reacted to whale transfers.
XRP Price Action
After a good start to November, the XRP price looks to be fading. As of November 10th, the market has reversed momentum, dropping to $1.115 from $1.35.
From $1.2, the currency gained solid support at $1. The bears, on the other hand, are not satisfied and are trying another downward. If they succeed, the bulls have another defense at $0.96. According to CoinMarketCap, the XRP price today is $1.09 USD with a 24-hour trading volume of $3,857,222,152 USD. XRP is up 4.47% in the last 24 hours.
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