The post Crypto Price Analysis November-01: XRP, BNB, SOL, DOGE, and MKR appeared on BitcoinEthereumNews.com.

This week, we examine Ripple, Binance Coin, Solana, Dogecoin, and Maker in greater detail. Ripple (XRP) The week started well for XRP, but the price action turned bearish on Wednesday, closing the week with a 3% loss. If buyers don’t return soon, this cryptocurrency may test the support at 48 cents again. Since September, XRP has been in a downtrend after its failure to sustain itself above 60 cents. With clear lower highs and lower lows, this downtrend may continue for some time until a base is found where buyers can attempt a recovery. Looking ahead, XRP is likely to remain under 54 cents, which is currently acting as key resistance. If the volume continues to decline, the price could also range between the key levels until a decisive breakout. Chart by TradingView Binance Coin (BNB) Binance Coin did not manage to break above the $600 resistance and was pushed back by bears. This is why it closed the week with a 3% loss. There have been several attempts at moving above $600 in the past, but they have all been rejected. Considering the lack of a clear breakout, the price is stuck in a range that appears to become tighter. Eventually, BNB will have to escape it as it narrows around it. The current momentum does not give a clear path forward, but sellers could show up again to push the price to $550. Looking ahead, the bias on this price action is neutral, but the daily MACD recently made a bearish cross, which could encourage sellers to be more aggressive in the coming days. Chart by TradingView Solana (SOL) Solana rallied to $183, and then sellers returned to push the price back to its key support at $164. This reversal saw the price drop by 4% this week.…

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Filed under: News - @ November 1, 2024 10:20 am