XRP Price Analysis for November 3

Bears are again back in the game, according to CoinStats.

XRP/USD

The rate of XRP has increased by 0.33% since yesterday.

On the hourly chart, the price of XRP is looking bullish as it is about to break the local resistance level of $0.6119. If buyers can hold the gained initiative and the daily bar closes near it, the breakout may lead to a further rise to the $0.62 zone.

On the daily time frame, one should pay attention to the resistance of $0.6212. If the rise continues to that mark, it might be a bullish signal for a further upward move.

Overall, traders are likely to see a quicker test of the $0.64 zone next week.

From the midterm point of view, traders should focus on the weekly bar closure in terms of the nearest resistance level of $0.6361. If it closes around it, the rise can continue to the $0.65 zone and above.

XRP is trading at $0.6126 at press time.

Source