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XRP price prediction for November 12th

Cover photo via U.Today

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According to CoinMarketCap, there are no reversal signals in the market so far.

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Top coins from CoinMarketCap

XRP/USD

XRP price continues to rise and is up 6.6% in the last 24 hours.

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Image from TradingView

On the hourly chart, XRP price is rising after a false breakout above the local support at $0.5984. If buyers can retain the initiative gained, the upward move could lead to resistance and subsequent breakout.

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Image from TradingView

On the larger time frame, watch out for the next level at $0.6342. If the daily bar closes near or above, the accumulated energy could be enough for a test of the $0.66 zone soon. Such a scenario is relevant until the end of the week.

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Image from TradingView

In the medium term, XRP price remains in the middle of a wide channel between the support at $0.4226 and the resistance at $0.7430. Since neither side has taken the initiative yet, continued sideways trading is the more likely scenario.

At press time, XRP is trading at $0.6143.

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