Bitcoin’s miner margins and NVT metric indicated a bottom range, but a final 
downside sweep remains possible.

Bearish Bitcoin mining data may be counter signal that encourages spot-driven BTC rally

Crypto prices today saw modest gains in what the market views as the start of 
a recovery from November’s sharp pullback. The total crypto market 
capitalization rose 3.6% to $3.2 trillion, supported by gains across major 
assets. At press time,…

Crypto prices today (Nov. 27): BTC reclaims 90K, ETH, XRP, BNB recover amid market correction

XRP price started a steady increase above $2.20. The price is now 
consolidating gains and might aim for another increase if it clears $2.280. 
XRP price started a fresh increase above the $2.220 zone. The price is now 
trading above $2.20 and the 100-hourly Simple Moving Average. There is a 
bullish trend line forming with support at $2.180 on the hourly chart of the 
XRP/USD pair (data source from Kraken). The pair could continue to move up if 
it clears $2.280. XRP Price Holds Ground XRP price started a decent upward 
move above $2.10 and $2.120, beating Bitcoin and Ethereum. The price gained 
pace for a clear move above the $2.20 resistance. The bulls even pumped the 
price above the $2.220 zone. A high was formed at $2.286 and the price started 
a short-term downside correction, but ETH and BTC rallied. There was a move 
below the 23.6% Fib retracement level of the upward move from the $1.817 swing 
low to the $2.286 high. The price is now trading above $2.20 and the 
100-hourly Simple Moving Average. Besides, there is a bullish trend line 
forming with support at $2.180 on the hourly chart of the XRP/USD pair. If 
there is a fresh upward move, the price might face resistance near the $2.2650 
level. The first major resistance is near the $2.280 level, above which the 
price could rise and test $2.350. A clear move above the $2.350 resistance 
might send the price toward the $2.450 resistance. Any more gains might send 
the price toward the $2.50 resistance. The next major hurdle for the bulls 
might be near $2.550. Another Pullback? If XRP fails to clear the $2.280 
resistance zone, it could start a fresh decline. Initial support on the 
downside is near the $2.180 level and the trend line. The next major support 
is near the $2.120 level. If there is a downside break and a close below the 
$2.120 level, the price might continue to decline toward $2.050 and the 50% 
Fib retracement level of the upward move from the $1.817 swing low to the 
$2.286 high. The next major support sits near the $2.00 zone, below which the 
price could continue lower toward $1.9250. Technical Indicators Hourly MACD – 
The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI 
(Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $2.180 and $2.050. Major Resistance Levels – $2.280 and 
$2.350.

XRP Price Pauses Upside Momentum While BTC and ETH Accelerate Their Recovery

A cryptocurrency analyst has pointed out how XRP has bounced off the bottom 
level of a Parallel Channel and could be headed toward its midway line. XRP 
Recently Found Support At The Lower Line Of A Parallel Channel In a new post 
on X, analyst Ali Martinez has discussed about a technical analysis (TA) 
pattern forming in the 3-day price of XRP. The pattern in question is a 
&#8220;Parallel Channel,&#8221; appearing whenever an asset&#8217;s price consolidates between 
two parallel trendlines. Related Reading: Capriole Founder Not Bearish On 
Bitcoin Despite Headwinds—Here’s Why The upper level of the channel provides 
resistance to the asset, making tops probable at it. Similarly, the lower line 
can facilitate bottom formations by acting as a source of support. A breakout 
of either of these bounds can imply a continuation of the trend in that 
direction. There are a few different types of Parallel Channels, but the one 
of interest here is the most basic version: a channel that&#8217;s parallel to the 
time-axis. This type corresponds to a phase of true sideways movement in the 
price. Now, here is the chart shared by Martinez that shows the Parallel 
Channel that the 3-day price of XRP has been stuck inside for the past year: 
As is visible in the above graph, XRP witnessed a failed breakout beyond the 
upper line of the Parallel Channel back in July. This kicked off a phase of 
downtrend for the cryptocurrency, which culminated in a retest of the 
channel&#8217;s lower line earlier in November. The coin has since observed a 
rebound, a potential sign that the support level of the Parallel Channel is 
holding up. The analyst thinks that the cryptocurrency may now be heading 
toward the midpoint of the pattern, located at $2.60. From the current price 
of the asset, a rally to this level would mean an increase of almost 20%. It 
now remains to be seen whether the coin&#8217;s surge will continue, or if it will 
retrace back to the support line again. Related Reading: XRP Jumps 7%, But 
Watch Out For Speculative Froth Something that could make the latter scenario 
more likely is profit-taking from the whales. As Martinez has highlighted in 
another X post, the large XRP holders carrying between 1 million and 10 
million tokens participated in distribution during the asset&#8217;s latest recovery 
surge. As displayed in the chart, XRP whales reduced their supply by more than 
180 million tokens (worth $391 million at the latest exchange rate) alongside 
its 17% price rally. This selloff was only a continuation of the trend from 
earlier in the month, and could be a potential sign that the sentiment among 
big-money traders hasn&#8217;t changed despite the rebound. XRP Price At the time of 
writing, XRP is floating around $2.17, down 1.5% over the last 24 hours. 
Featured image from Dall-E, Santiment.net, charts from TradingView.com

XRP Rebounds From Channel Bottom, Analyst Says $2.60 Could Be Next

Animoca Brands’ founder, Yat Siu, anticipates that the crypto industry will 
not have a one-winner “takes all” scenario like the internet era in the early 
2000s.

Cryptocurrency price in USD