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Key Takeaways
- XRP fell 12.5% after the $1.33 rejection.
- The November 5 close confirmed a bull trap.
- Price stalled just above the 0.786 Fib.
- RSI dropped to 31, near oversold.
Coindoo’s November 5 analysis set the test after XRP was rejected near $1.33: a daily close under the 0.618 level near $1.26 and the 200-day simple moving average (SMA) could confirm a bull trap. On the Binance daily chart at 14:37 UTC on November 8, XRP trades at $1.16, down 0.18% on the day.
Since then, the failed breakout has unwound fast. Buyers who chased XRP above the 200-day were left holding positions below it, and the speed of the drop toward the 0.786 retracement fits those positions being closed. The selling has now started to slow.
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