In about 36 hours, $XRP surged from $1.35 before plunging below $1.185, leaving breakout buyers holding the bag near the top.
A report on November 6 said $XRP had fallen below $1.30 and then $1.20, reaching its lowest level since August 22, with a 24-hour drop of about 9.5%. The ETF data cited in the report also showed no net inflows for three consecutive days, from November 3 to 5. A broader market pullback, combined with weak demand for the asset, meant the post-breakout rally couldn’t hold.
I’d lean toward playing defense first: the price has repeatedly lost key levels, and ETFs lack fresh inflows. Trying to catch a rebound now is a bet that selling pressure will suddenly dry up. Even if you’re bullish long term, it’s better to first watch whether $1.20 can be reclaimed, then look at $1.28. A steep drop only shows that volatility is high; it doesn’t prove the asset is cheap.
Which side are you on this time: buying the dip in $XRP around $1.185, or waiting for it to get back above $1.20 before entering?
A report on November 6 said $XRP had fallen below $1.30 and then $1.20, reaching its lowest level since August 22, with a 24-hour drop of about 9.5%. The ETF data cited in the report also showed no net inflows for three consecutive days, from November 3 to 5. A broader market pullback, combined with weak demand for the asset, meant the post-breakout rally couldn’t hold.
I’d lean toward playing defense first: the price has repeatedly lost key levels, and ETFs lack fresh inflows. Trying to catch a rebound now is a bet that selling pressure will suddenly dry up. Even if you’re bullish long term, it’s better to first watch whether $1.20 can be reclaimed, then look at $1.28. A steep drop only shows that volatility is high; it doesn’t prove the asset is cheap.
Which side are you on this time: buying the dip in $XRP around $1.185, or waiting for it to get back above $1.20 before entering?
