XRP fell below $1 and traded near $0.9464 on November 15, with a weekly loss above 18%. Long liquidations, withdrawals from US spot XRP funds and a deeply oversold daily chart accompany the drop. The first recovery test sits at $0.99 – $1.
XRP traded at approximately $0.94645 on November 15, down 3.64% over 24 hours and 18.47% over seven days. The 24-hour range ran from 0.89421 to 0.99736.
However, the bounce has not regained $1. Analyst Ali Charts had said $0.99 must hold, placing $0.80 on the downside if that support failed. XRP has since traded below that level.
Daily readings show an extended decline
Calculations from Gate's market put the daily 14-period RSI near 16.1, against a conventional threshold of 30. The daily 20-period exponential moving average, meanwhile, stood near $1.1497, well above the latest close of $0.9138.
An oversold reading can make a recovery plausible without supplying the buying needed to carry it through $1. The four-hour MACD also remained negative, without a bullish crossover to accompany the bounce.
Long liquidations and fund outflows add pressure
CoinGlass showed approximately $47.32 million in XRP liquidations over 24 hours, with longs accounting for about 91%. Open interest stood near $1.98 billion, and the aggregate funding rate was slightly negative at approximately minus 0.0020%.
Liquidations close positions when collateral can no longer support them. The dominance of long liquidations shows that traders positioned for higher prices bore most of the forced closures.
Demand from funds also weakened. The XRPSONAR tracker recorded approximately $19.13 million in net outflows over the seven days ending November 13. The tracker's table showed combined fund assets of approximately $1.274 billion on November 9 and $1.152 billion on November 13, a drop that also reflects XRP's price changes.
Scenarios through November 20
A sustained recovery above the upper boundary would support attempts at $1.05 and 1.10. Losing the 0.89–0.90 area would leave $0.85 as an intermediate reference and $0.80 as the deeper bearish scenario.
Source: crypto.news
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