An analysis from a digital asset researcher suggests that Cardano could be gearing up for a potential recovery to $0.23 following ADA’s rebound above a crucial support.
In a technical analysis shared by its digital asset research arm, More Crypto Online highlighted Cardano’s rebound around the $0.1824 support level. The accompanying four-hour chart shows that the bounce occurred near the 61.8% Fibonacci retracement level of the preceding decline.
However, the researcher cautioned that the rebound alone does not confirm a market bottom, as ADA must overcome several resistance levels to strengthen its recovery prospects.
ADA Faces Resistance Between $0.1953 and $0.2039
More Crypto Online identified the $0.1953 to $0.2039 range as ADA’s next major hurdle. This zone corresponds to the 38.2% and 61.8% Fibonacci retracement levels of Cardano’s latest decline.
Consequently, ADA must demonstrate sustained strength within this range to establish whether the rebound can develop into a more prolonged recovery.
A decisive break above $0.2039 would improve the short-term outlook and bring the next resistance at $0.209 into focus, according to More Crypto Online. Beyond that level, ADA could target the broader resistance zone around $0.2302, aligning with the potential recovery target of $0.23.
Meanwhile, Cardano currently trades at $0.1874, requiring a 22.83% gain to reach $0.2302. ADA last traded around this level in late October before mounting bearish pressure pushed the token below $0.20.
The broader crypto market downturn has continued to weigh on the asset. At press time, ADA has declined 1.48% over the past 24 hours, highlighting the challenges it faces in sustaining its latest rebound.
More Crypto Online Cardano Chart
ADA Risks Another Decline if Support Fails
On the downside, More Crypto Online identified the $0.1617 to $0.1824 region as a broader support area if selling pressure resumes. Therefore, ADA’s ability to defend the $0.1824 level could prove crucial to maintaining the recovery attempt.
Although the rebound offers some encouragement, the researcher emphasized that a bounce from a Fibonacci level does not establish a definitive market low. Instead, ADA must sustain its upward momentum and overcome the overhead resistance zone to strengthen the bullish outlook.
Meanwhile, another analyst, KCM, has warned that a significant supply wall could intensify bearish pressure on Cardano. The analyst identified a substantial sell-order block between $0.1949 and $0.1970, suggesting that the selling pressure in this region could push ADA back toward $0.1824.
However, ADA’s performance in the coming days remains uncertain as investors await the outcome of the U.S. midterm elections, which could influence broader market sentiment.
An XRP community member has criticized Ripple CEO Brad Garlinghouse and ex-CTO David Schwartz, accusing the company of putting its business interests ahead of loyal XRP holders.
In a post on X, user Fiduciary Ledger ’17 said XRP investors supported Ripple throughout its five-year legal battle and years of uncertainty.
He argued that many holders kept their XRP despite negative news, market pressure, and uncertainty because they believed in Ripple’s future. Some even invested their life savings.
Accuses Ripple of Favoring RLUSD Over XRP
The user believes XRP holders helped Ripple survive its legal fight with the U.S. SEC but have not benefited financially from the company’s success. He accused Ripple of focusing more on growing its business around RLUSD and other enterprise products while failing to unlock XRP’s full potential.
According to him, Ripple has secured its corporate future while many long-term XRP holders are still waiting for their investments to pay off.
His comments align with popular frustration among some XRP investors who feel Ripple’s business growth has not translated into higher XRP prices.
He believes XRP should be worth $15 to $20 or even higher, arguing that loyal holders deserve rewards for standing by Ripple during its difficult years. He also urged executives to rebuild trust and deliver better results for long-term investors.
Ripple’s Business Growth Raises Questions About XRP
Indeed, Ripple has expanded its business beyond cross-border payments. Its operations now include institutional services, tokenized assets, and its dollar-backed stablecoin, RLUSD.
RLUSD runs on both the XRP Ledger and Ethereum. Unlike XRP, which is used for transaction fees, account reserves, and trading on the XRP Ledger, RLUSD maintains a stable value of $1.
This has raised questions among XRP investors about whether Ripple’s growing business will also increase demand for XRP. Some long-term holders worry that Ripple’s business success may not lead to the price growth they have been waiting for.
Ripple CEO and former CTO Predict Five-year Outlook for XRP
Meanwhile, Garlinghouse has continued to describe XRP as a cornerstone of Ripple’s financial services business. At Swell 2026, he predicted XRP will become the “institutional gold standard for crypto rails.”
He emphasized that Ripple will prioritize XRP wherever practical but will also use fiat currencies and its RLUSD stablecoin when they better serve customers.
Meanwhile, Schwartz predicted mass retail blockchain adoption within five years, suggesting the technology could become as essential as the internet for managing money, receiving payments, and investing. He also identified real-world asset tokenization as a major driver of adoption.
The bottom line is that Ripple’s long-term vision centers on institutional adoption, retail blockchain use, and asset tokenization, while XRP remains central to its strategy.
Hussain Zangana, aka Vet, an XRP Ledger validator, has explained why XRP differs from stablecoins such as Ripple USD (RLUSD). He argued that while holding RLUSD is optional, XRP is necessary to use the XRP Ledger.
In an X post, Vet explained the differences between the two assets, including their roles, issuers, and level of control.
“RLUSD is optional. XRP isn’t,” he stated.
XRP Is Needed to Use the XRPL
According to Vet, XRP plays a central role on the XRP Ledger because every account must hold a minimum amount of XRP to remain active. The network also charges transaction fees in XRP, meaning users need the asset to carry out transactions.
RLUSD works differently. Since Ripple issues the dollar-backed stablecoin, users must first set up a trust line before they can hold or transact with it on the XRPL.
Vet also pointed to differences in how the two assets are controlled. Ripple issues RLUSD and must follow U.S. regulations. This means the company can freeze RLUSD tokens when required.
XRP, on the other hand, has no central issuer that can freeze users’ holdings. Vet described it as a neutral asset with no single jurisdiction controlling it and classified it as a commodity.
XRP Has a Special Role in XRPL’s DEX
Vet also explained that XRP plays a unique role in the XRP Ledger’s decentralized exchange (DEX), particularly when users swap different currencies. The DEX automatically checks whether using XRP as an intermediary can offer a better exchange rate.
For example, when someone swaps USD for EUR, the system checks whether routing the trade through XRP would give them a better deal.
According to Vet, XRP is the only asset that receives this automatic treatment by default. This also makes XRP useful to market makers who provide liquidity across different trading pairs. They can use XRP to connect different markets without depending on a particular stablecoin issuer.
Vet added that market makers mainly need to consider XRP’s market price rather than worry about the financial risks of a token issuer.
RLUSD and XRP Have Different Uses
Vet also explained that XRP and RLUSD serve different purposes because their prices behave differently. RLUSD maintains a $1 value, making it useful for payments, payroll, invoices, and business transactions where price stability matters.
XRP, however, has a floating market price that changes with supply and demand. It is not backed by dollar reserves or tied to a fixed value.
This makes XRP more suitable for trading and investment, while its structure also allows users to transact without relying on a central issuer.
His comments suggest that XRP and RLUSD are not competing for the same purpose. Instead, they serve different needs within the XRPL ecosystem.
RLUSD Growth Could Also Benefit XRP
Meanwhile, Vet argued that the XRP Ledger does not need users to choose between XRP and stablecoins for the network to grow. More stablecoin transactions and activity involving other assets increase XRPL usage while XRP continues to serve as its native asset and liquidity bridge.
He believes that as the network becomes more successful, XRP could also gain wider acceptance.
In this setup, RLUSD provides payment price stability, while XRP handles transaction fees, account reserves, and liquidity transfers. Both assets can therefore benefit from increased activity on the XRP Ledger without serving the same purpose.
XRP analyst Casi Trades is urging traders to watch the asset closely, warning that its recent price consolidation below a key Fibonacci level could precede another sharp decline.
In a post on X, Casi highlighted XRP’s continued struggle to reclaim the $1.26 Fibonacci level, which previously acted as support before breaking down.
She noted that the coin has spent several days consolidating beneath this level, a development she believes may set the stage for a fast downward move.
“If there was ever a time to pay attention, it’s right now,” the analyst wrote, emphasizing that traders should not overlook XRP’s current price behavior.
According to her analysis, the consolidation beneath the broken Fibonacci level is a warning sign. She suggested XRP could drop further if buyers fail to reclaim the lost level.
Casi Identifies $1.10 and $0.90 as Key XRP Targets
The analyst’s accompanying TradingView chart outlines a bearish scenario in which XRP falls toward the $1.10 region before extending its decline to $0.90.
The chart identifies $1.10 as an important Fibonacci retracement area, with the 0.786 level sitting near $1.0937. Another Fibonacci extension targets around $1.1259.
Below that zone, Casi identifies $0.90 as another downside area to watch. Her chart places the 0.854 Fibonacci level near $0.8705, suggesting that XRP could test the lower $0.90 region if selling pressure continues.
Meanwhile, the analyst warned that the anticipated move may happen quickly, leaving traders with little time to react once the market begins moving.
“This is exactly what we’ve been preparing for,” she added, explaining that she and her followers had spent months studying XRP’s price action and identifying targets. She also pointed to the importance of watching momentum indicators as XRP approaches the lower Fibonacci levels.
XRP 1Hr Chart by Casi Trades Showing KeyFibonacci Levels
XRP Struggles as Weekly Losses Deepen
XRP’s recent performance provides context for the analyst’s warning. According to CoinMarketCap data, the cryptocurrency is trading around $1.24, down 4% over the past seven days and 17% over the past month.
The accompanying chart shows XRP trading below $1.26, with several recent attempts to move higher failing to produce a sustained recovery.
The Relative Strength Index (RSI) indicator at the bottom of the chart stood near 51. This suggests momentum was relatively neutral at the time of the snapshot rather than extremely oversold.
Recovery to $1.7 Possible
However, Casi’s analysis does not rule out a temporary recovery. Her chart also sketches a larger upward move after the projected decline toward the lower Fibonacci targets. In particular, it projects a strong rebound to above $1.75.
In a follow-up comment, she asked followers to guess what happens after Wave 2 (W2), hinting at a possible subsequent upward wave under her Elliott Wave interpretation.
At the moment, the immediate levels are $1.26, $1.10, and $0.90. Whether XRP reclaims the broken Fibonacci level or extends its decline to the analyst’s lower targets will determine which scenario takes shape.
Cardano could extend its decline toward $0.1537 as bearish momentum persists, according to top analyst ZenTrades.
Taking to X recently, ZenTrades warned that Cardano could plunge further after losing 21% in October and slipping below the $0.20 level. During the decline, ADA broke below the $0.2019 support, signaling a bearish shift in its price structure.
ADA Trades Below Key EMAs
The accompanying chart shows ADA trading at $0.1925 at the time the outlook was published. Moreover, ADA remains below $0.21 and $0.24, which corresponds with the 50-day and 200-day EMAs levels, respectively.
Meanwhile, the chart identifies $0.1894, which corresponds to the August 30 low, as immediate support. If ADA breaks below this level, it could decline further toward $0.1712, the August 18 low. A deeper correction could then expose the late-July support level at $0.1537, according to ZenTrades.
The bearish outlook was also reinforced by several momentum indicators. Cardano’s daily RSI stands at 32. At the same time, ZenTrades noted that Cardano’s MACD sits below zero, signaling persistent downward momentum.
ADA Could Drop Another 18% to $0.1537
ZenTrades’ latest projection follows an earlier warning that Cardano could fall to $0.1894.
However, ADA subsequently extended its decline, reaching $0.1869 in the hours leading up to publication. From that price, it would need to fall another 8.40% to reach $0.1712. A further decline to $0.1537 would represent a drop of 17.77%.
These projections highlight the risk of additional losses if ADA fails to hold its remaining support levels. Nevertheless, the identified targets remain potential downside levels rather than guaranteed outcomes.
ZenTrades Cardano Chart
Broader Market Weakness Adds to ADA’s Downside Risks
Cardano’s latest weakness also coincides with a broader crypto market downturn. Uncertainty surrounding the U.S. midterm elections and institutional outflows from crypto exchange-traded funds (ETFs) have contributed to the negative market backdrop.
Over the past 24 hours, Bitcoin, Ethereum, and XRP declined by 2.02%, 1.56%, and 0.36%, respectively. ADA, meanwhile, fell by a steeper 2.4%, indicating that it underperformed these major cryptocurrencies during the period.
Another Analysis Identifies $0.25 as Key Resistance
Meanwhile, a separate analysis highlighted by The Crypto Basic points to Cardano’s prolonged bearish structure, with ADA trading inside a descending channel on the weekly chart.
According to this outlook, ADA needs to rally toward $0.25 to challenge a major resistance level. A decisive breakout above this threshold could open the way toward higher resistance levels, with $3 representing a longer-term target.
However, ADA would need to overcome several resistance barriers before reaching these levels, and the broader bearish trend could continue to hinder its recovery.
XRP options are pricing an approximately ±8.7% move through Nov. 8, matching Solana for the largest expected seven-day swing among four major crypto assets tracked by Coinbase Markets.
The more notable signal, however, is how far XRP’s options pricing sits above its normal historical movement.
Coinbase data places XRP’s median seven-day absolute move at only 4.9%, meaning the current 8.7% implied move carries roughly a 1.76x premium to its historical median. Coinbase identified that as the widest relative premium among XRP, SOL, Ethereum, and Bitcoin.
Coinbase data shows XRP and Solana with ±8.7% seven-day implied moves, while XRP carries the largest premium over its historical median at 1.76x.
XRP currently trades near $1.25, with price remaining close to the $1.24-$1.25 support region that has dominated recent technical setups.
XRP Shows the Largest Gap From Historical Volatility
The chart compares two measurements for each asset: the move currently implied by options and the median absolute move historically recorded over comparable seven-day periods.
XRP stands at 8.7% implied versus 4.9% historically.
That creates a gap of 3.8 percentage points, the largest absolute difference among the four assets shown.
Using the rounded chart figures, the implied move is about 1.78 times the historical median. Coinbase cites the ratio at 1.76x, likely reflecting the underlying unrounded inputs used to construct the chart.
SOL Matches XRP at 8.7%, but Its Premium Is Smaller
Solana also carries an 8.7% implied seven-day move, but its historical median is substantially higher at 6.5%.
That leaves SOL’s implied move about 1.34 times its historical median, compared with XRP’s 1.76x reading.
Ethereum follows with a 7.7% implied move, against a historical median of 5.1%. That represents roughly 1.51x its normal seven-day movement.
Bitcoin has the smallest absolute implied move at 5.8%, compared with a historical median of 3.5%. Even BTC therefore carries a substantial premium of roughly 1.66x.
In other words, all four options markets are pricing more movement than their historical medians. XRP simply shows the greatest relative departure from its own typical behavior.
What an 8.7% XRP Implied Move Means
Coinbase calculates the expected move using at-the-money implied volatility and the time remaining through Nov. 8.
The ±8.7% figure does not predict direction.
It means options pricing reflects the magnitude of a potential move in either direction. A large downside move would satisfy the implied-volatility calculation just as a large rally would.
Using XRP’s current price around $1.25 only as a reference, an 8.7% move would translate to approximately:
Upside: $1.36
Downside: $1.14
These are our calculations from the current price, not Coinbase price targets. Coinbase’s volatility reading was based on market data as of Nov. 1.
The one-standard-deviation, or 1σ, convention is also a volatility framework rather than a guarantee that XRP will remain within those boundaries.
For now, the chart suggests options traders are not pricing XRP calmly relative to its own history. The next question is whether the elevated 8.7% expectation translates into an actual volatility expansion before Nov. 8—and, critically, which direction that expansion takes.
XRP has entered one of its tightest volatility setups in months, with the Bollinger Bands on the four-hour chart compressing to their narrowest level since August.
The cryptocurrency is trading around $1.25, almost exactly in the middle of a narrow $1.23-$1.27 decision zone. The compression follows a sharp late-October decline that pushed XRP from above $1.30 toward the current consolidation area.
The setup points to expanding volatility ahead, but the Bollinger Bands themselves do not determine whether the eventual break will be higher or lower.
XRP Volatility Collapses Around $1.25
The four-hour structure shows XRP stabilizing after the latest selloff.
XRP’s four-hour Bollinger Bands have compressed around $1.25, with $1.27 marking bullish confirmation and $1.23 defining the bearish breakout level.
Price previously traded above $1.35 and briefly approached the $1.40 area before a sequence of bearish candles accelerated the decline. The most aggressive part of the move pushed XRP toward the lower $1.20s.
Since then, price action has changed considerably.
Instead of continuing lower, XRP has spent several sessions moving sideways close to $1.25. The candles have become increasingly small while the upper and lower Bollinger Bands have contracted sharply around price.
This type of compression reflects a decline in recent volatility. When the bands become unusually narrow, a sufficiently strong move can force them to begin expanding again.
Similar XRP Squeeze Previously Preceded a 71% Rally
The last time XRP’s four-hour Bollinger Bands became this compressed, in August, price subsequently rallied approximately 71% within three days.
That historical move helps explain why the latest squeeze deserves attention, but it does not establish another 71% rally as a forecast.
Bollinger squeezes measure contraction in volatility rather than direction. A breakout can expand aggressively in either direction once the market leaves the compressed range.
That makes the nearby price boundaries more important than the size of the previous rally.
$1.27 Is the Bullish Confirmation Level
The first upside trigger is $1.27.
With XRP around $1.25, reaching $1.27 would require a gain of only about 1.6%. More importantly, the setup calls for a completed four-hour close above $1.27, rather than an intraday wick through the level.
Such a close would push XRP above the upper edge of the current consolidation and provide initial confirmation that volatility is expanding upward.
The opposite boundary sits at $1.23, also about 1.6% below a $1.25 starting price.
A completed four-hour close below $1.23 would break XRP beneath the consolidation floor and signal that the volatility expansion is developing to the downside.
That would return attention to the broader support structure around $1.20, followed by the lower levels previously identified beneath the market. Earlier analysis placed $1.26 and $1.10 among XRP’s important downside levels.
Until either trigger is confirmed, the technical structure remains unresolved.
The next observable test is therefore simple: a four-hour close above $1.27 would favor an upside breakout, while a close below $1.23 would confirm renewed bearish pressure. Between those levels, XRP remains trapped inside its volatility squeeze.
NEAR falls 10.8% as Bitcoin loses weekend support and Monero advances. November 3 analysis tracks BTC, XRP, NEAR, SUI and XMR with key levels and daily charts.
Asset
USD price
24-hour change
Aggregate 24-hour volume
Market-cap rank
Bitcoin (BTC)
$76,838
−2.19%
$26.64 billion
1
XRP
$1.25
−0.79%
$1.37 billion
5
NEAR Protocol (NEAR)
$3.83
−10.85%
$630.86 million
21
Sui (SUI)
$0.867481
−4.04%
$247.85 million
30
Monero (XMR)
$609.36
+1.21%
$141.90 million
13
Bitcoin Loses Weekend Support as RSI Falls to 35
Bitcoin closed Monday at $76,675.80, down 2.00%, after reaching $78,739.70 and falling to $76,564.70. It briefly exceeded Friday’s $78,667.30 high but failed to hold that recovery threshold at the close. Instead, it finished below both Sunday’s $77,385.80 low and Saturday’s $77,000 floor.
BTC/USD closes below $77,000 weekend support as daily RSI falls to 35.01, leaving $76,155.50 as the next major daily reference.
That reverses the higher-low sequence described in Monday’s price analysis. The daily 14-period RSI, calculated with Wilder smoothing, fell to 35.01 from 39.61. Momentum weakened toward the conventional oversold threshold of 30, but remained above it.
The latest completed four-hour candle reached a lower $76,427 low before closing at $76,804.10. Its RSI stood at 36.57, leaving both timeframes below neutral. That early Tuesday low is a short-term reference, rather than a completed daily low.
A daily reclaim of $77,000 and $77,385.80 would repair the first broken supports. Clearing $78,739.70 would then overturn Monday’s reversal, with $79,120.80 still overhead. On the downside, failure to hold $76,427 would increase pressure on Friday’s $76,155.50 low. A daily close below that level would confirm another extension, bringing the September 15 low at $74,891.50 into focus.
XRP Holds Near $1.25 Beneath Falling Averages
XRP closed Monday at $1.24803, down 0.09%, after trading between $1.23364 and $1.26254. The session exceeded Sunday’s high and undercut its low, but finished close to the previous close. Buyers recovered part of the intraday decline without establishing an upside breakout.
XRP/USD holds near $1.25 but remains below falling daily EMAs at $1.30389 and $1.33873.
The Crypto Basic previously highlighted repeated buying near $1.24. Monday traded below that area before closing back above it, showing why a brief breach and a confirmed closing breakdown should be distinguished.
The 20-day exponential moving average fell to $1.30389 from $1.30977, while the 50-day EMA declined to $1.33873 from $1.34243. Price remained beneath both, with the faster average below the slower one. The latest completed four-hour close of $1.24964 also stayed beneath its 20-period EMA at $1.25341 and 50-period EMA at $1.27032.
A daily close above $1.26254 would clear Monday’s high. The next test is Friday’s $1.27214 high, near the longer four-hour average, followed by $1.28908 and the daily 20-period EMA. Losing $1.23364 would weaken the latest defense and expose $1.22224. A close below Friday’s $1.19685 low would invalidate the broader stabilization attempt.
NEAR Confirms a New Low as Its Bearish MACD Gap Widens
NEAR closed Monday at $3.8600, falling 9.87%, after a $3.8384–$4.3438 session. The close broke Friday’s $3.9001 low, invalidating the rebound base described in the October 31 report. Monday also established the weakest traded price in the latest 30 completed daily sessions.
NEAR/USD closes below $3.9001 as its daily MACD histogram widens to −0.11575; early Tuesday trading reaches $3.7801.
Daily MACD, using 12- and 26-period exponential averages with a nine-period signal EMA, deteriorated. The line fell to −0.13242 against a −0.01667 signal. The histogram widened below zero to −0.11575 from −0.09767. This was renewed weakness within an existing bearish line-signal relationship, not a new bearish crossover.
The latest completed four-hour candle extended the decline to $3.7801 and closed at $3.8222, beneath Monday’s low. Its MACD histogram remained negative at −0.04738. The shorter timeframe therefore confirmed continued pressure after the daily breakdown, rather than an immediate recovery of the lost floor.
Reclaiming $3.8384 and then $3.9001 would be the first repair. A daily close above $4.0333 would recover another former support, while $4.2262 and Monday’s $4.3438 high remain farther obstacles. Holding $3.7801 is necessary for a new short-term base to develop. A break beneath it would extend the decline; a daily reclaim of $3.9001 would instead challenge the latest breakdown.
SUI Approaches Its Lower Daily Bollinger Band
SUI closed Monday at $0.8715, losing 3.17%, after reaching $0.9082 and falling to $0.8630. The session marginally exceeded Sunday’s high before reversing beneath its $0.8853 low. Friday’s $0.8257 extreme remained intact, but the rebound had lost ground.
SUI/USD closes above its $0.84908 lower daily Bollinger Band, while the latest four-hour close falls below its own lower boundary.
Daily Bollinger Bands, using a 20-day simple moving average and two population standard deviations, placed the lower boundary at $0.84908. The midpoint fell to $0.95614 from $0.96488. Monday closed above the lower band but well beneath the declining midpoint, indicating continued weakness within the daily envelope.
The four-hour picture was weaker. Its latest completed candle closed at $0.8668, below the $0.87010 lower band, after reaching $0.8602. This is a confirmed four-hour close outside the bands, not a completed daily break below the daily lower boundary.
A recovery above $0.8853 would reclaim Sunday’s lost low. A daily close above $0.9082 would overturn Monday’s reversal, with $0.9108 and the daily midpoint farther overhead. Support lies near $0.8583, followed by the current daily lower band and $0.8257. A daily close below $0.8257 would invalidate the rebound from Friday’s low. The band values themselves will adjust with subsequent closes.
Monero Advances With Volume 74% Above Its Recent Average
Monero closed Monday at $604.07, gaining 0.83%, after trading between $596.76 and $614.90. It recorded a higher high and higher low than Sunday, extending the recovery from Friday’s $572.49 low. However, the close remained below Sunday’s $609.88 high, leaving the intraday breakout unconfirmed on the daily timeframe.
XMR/USD rises on volume 74% above its preceding 20-session average, but the daily close remains below $609.88.
Daily turnover reached approximately 16,050 XMR, or 1.74 times the preceding 20-session average. Trading participation was therefore about 74% above that benchmark. This provides stronger volume support for the advance, although price still needs to clear resistance at the close.
The latest completed four-hour candle closed at $608.98 after reaching $610.35. It also finished below $609.88, despite trading above it. The latest $609.36 market price remained beneath Monday’s $614.90 high.
A daily close above $609.88 and then $614.90 would strengthen the recovery. The October 28 high at $618.56 is the next nearby obstacle, followed by $638.87 and $649.40. A return below $596.76 would weaken the latest higher-low sequence; support then sits at $590.00 and $585.65. Losing Friday’s $572.49 low would invalidate the broader rebound despite the stronger participation in Monday’s advance.
Corporate crypto holdings, exchange security and new tokenization projects dominated the announcements on November 2. Coinbase disclosed a Bitcoin treasury milestone, Strategy reported another purchase, and Mercado Bitcoin suspended transfers following a security incident. Meanwhile, Standard Chartered introduced tokenized deposits in Hong Kong.
Coinbase’s Bitcoin Treasury Reaches 18,000 BTC
Coinbase CEO Brian Armstrong announced that the company had recently acquired its 18,000th Bitcoin for its corporate treasury. His November 2 update confirmed the holdings milestone but did not specify when the latest purchase occurred or how much Coinbase paid.
Strategy Discloses Another $65.5 Million Bitcoin Purchase
Strategy’s latest filing showed that it spent $65.5 million buying 811 BTC between October 26 and November 1, paying an average of $80,846 per coin, including expenses. The purchase brought its reported holdings to 849,327 BTC. In the same disclosure, the company reported spending $208.2 million repurchasing its STRC preferred shares.
Mercado Bitcoin Suspends Transfers After Security Incident
Brazilian exchange Mercado Bitcoin paused deposits and withdrawals after a security incident that outside investigators estimated involved more than $40 million across multiple blockchains. The company said it had contained the incident and that customers and their data were unaffected, while the investigation continued. Tether CEO Paolo Ardoino separately confirmed that approximately $4.5 million in USDT connected to the incident had been frozen.
Standard Chartered Introduces Tokenized Deposits in Hong Kong
Standard Chartered launched a service allowing eligible corporate clients in Hong Kong to use tokenized bank deposits for treasury operations and investments. Through the HKMA’s EnsembleTX infrastructure, participating banks can transfer these deposits around the clock, with interbank obligations settled in central bank money. The bank said China AMC, Finloop and PantherTrade had already completed live transactions involving the service.
Bitmine Adds 8,573 ETH to Its Treasury
Bitmine’s November 2 update disclosed another 8,573 ETH purchased during the preceding week, taking its holdings to 6,060,506 ETH. The company put that position at approximately 4.9% of Ethereum’s supply and reported that more than 5.22 million ETH was staked. Its combined crypto, cash, marketable securities and other investment holdings totaled approximately $14.5 billion.
Binance Reports $4.72 Billion in Net Withdrawals After Reopening
Binance said customers had withdrawn a net $4.72 billion since withdrawals resumed on November 1 following the exchange’s previously reported $6.3 billion hack. In the November 2 update, the company said the initial rush of withdrawals was easing and reported $2.7 billion in incoming funds. The figures provide a fresh measure of customer activity as the platform restores operations.
NYSE Adds Four Partners to Tokenized Securities Project
NYSE announced that Broadridge, Computershare, Equiniti and Superstate had joined the transfer-agent network supporting its planned tokenized securities venue. Their involvement addresses the ownership records and shareholder services needed alongside blockchain trading, with Broadridge also supporting voting and governance. The proposed venue aims to offer continuous trading and immediate settlement, subject to regulatory approval.
tZERO Announces Merger Agreement for Public Listing
Tokenization infrastructure company tZERO announced an agreement to combine with FG Imperii Acquisition Corp. and pursue a public listing. The proposed transaction assigns tZERO a pre-money equity value of up to $350 million, including $25 million tied to specified milestones. Following completion, the combined company expects to trade on NYSE American under “TZRO,” with the transaction still dependent on closing conditions and approvals.
XRP has returned to the $1.24-$1.25 region, putting the cryptocurrency at a technically important price area that previously served as a major pivot before a strong recovery.
XRP is trading around $1.25 on Nov. 2, after falling steadily from its late-September highs. The latest pullback has taken the asset back toward a support zone that could determine whether the months-long correction is approaching exhaustion or has another leg lower remaining.
XRP Returns to the Level That Preceded Its August Breakout
XRP spent much of April and May trading comfortably above $1.30 before selling pressure intensified in June.
XRP has returned to the $1.24-$1.25 support region after retreating from September highs, with $1.30-$1.33 emerging as the first recovery test.
The decline continued through July and eventually pushed XRP toward the $1 psychological region in August. Buyers responded aggressively from that area, allowing XRP to recover through $1.10 and eventually reclaim the $1.24-$1.25 zone.
Once XRP cleared this region, momentum accelerated.
Price rapidly advanced toward $1.50 and temporarily reached approximately $1.70. A later rally again challenged the upper portion of the range, with XRP approaching the $1.60 area before sellers regained control.
Since then, the structure has changed considerably.
XRP has produced a sequence of lower highs while gradually surrendering the gains generated during the August rebound. That correction has now returned price to the same $1.24-$1.25 region that previously helped separate the accumulation phase from the stronger advance.
The importance of the current level comes from its previous role as resistance.
Before XRP’s August expansion, the market struggled around the $1.24-$1.25 region. Once buyers decisively reclaimed it, price moved sharply higher.
XRP is now approaching the same level from above, creating a potential support-resistance flip.
Price traded as low as approximately $1.2414 on Nov. 2, while remaining around $1.25. This places XRP directly on the potential support rather than confirming that buyers have already established a durable bottom.
The current daily candle also remains unfinished, so the market still needs confirmation.
A sustained defense of $1.24-$1.25 followed by improving price structure would strengthen the case that the correction is bottoming in this area.
For now, $1.24-$1.25 is the immediate battleground. Holding the zone and reclaiming $1.30-$1.33 would provide the first meaningful evidence that XRP has established a bottom.
