XRP, Dash, Compound Price Analysis: 05 November

  • 06 November 2020, Friday, 02:06
XRP, Dash, Compound Price Analysis: 05 November
Source: Pixabay

XRP, Dash, and Compound have all had a bad last month. XRP is down the least -2.94% while Dash is down -2.28% and Compound by -29.17%. This is obvious considering bitcoin’s stellar performance in the month of October, which has even outpaced the likes of FAANGs.


Source: XRPUSD TradingView

XRP is still the fourth-largest crypto, however, it might not if it fails to surge this bull run. There are quite a lot of cryptocurrencies vying to take this spot and it might just happen if XRP doesn’t stop hemorrhaging. Forming a descending broadening wedge, XRP’s price looks bearish, for the time being.

The Awesome Oscillator showed a decrease in the bearish sentiment from the sellers, however, it hasn’t crossed the zero-line yet. Hence, it isn’t a confirmed bullish signal.

We can expect XRP, like other alts, to just drop more, as bitcoin continues to rise.


Source: DASHUSD TradingView

Dash’s price looks bearish if the first statement didn’t make it obvious. It is clear that the price suffered a sell-off at the start of November and this seems to have found a respite for a while. At press time, Dash is trading at $64.19 and shows more signs of a drop coming.

The first sign is the price’s failure to climb above the Bollinger Band’s SMA [center line]. Adding to this is the MACD indicator, which is below the zero-line and is yet to reflect the aforementioned failure of price.

Compound [COMP]

Source: COMPUSD TradingView

Although Comp has suffered the most in the last month, things might be looking up for it. Not only has comp token formed a bullish divergence between the price and OBV, but it has also formed an even larger bullish divergence with RSI as well.

Both these help Comp token’s case and we might see a surge soon. The levels to keep an eye out for Comp include $94 and $100.

Source: ambcrypto.com