In a recent video on the Cheeky Crypto channel, JB discusses Ripple’s XRP, its surprising performance in October, and potential expectations for November.
XRP Performance in October
XRP saw a surprising 6.97% gain in October, defying the usual October decline. This marked one of the most profitable months for XRP since its inception in 2013.
JB suggests that XRP shows a promising trend for November, with an average return on investment (ROI) of 77.3%. However, the median statistic suggests a less optimistic figure, possibly a -10% drop.
Cheeky Crypto Membership and Data Analysis
Cheeky Crypto offers a 7-day free trial on all membership plans. JB shares data analysis that shows accumulation in wallets holding 1,000, 10,000, and 100,000 XRP.
In the last 24 hours, $2.35 million worth of XRP positions were liquidated, with 8.97% longs and 11% shorts. OKX had the highest liquidations, with $1.2 million of XRP positions.
JB’s technical analysis suggests that XRP’s one-hour chart shows a potential drop to around 52.6 cents. The daily chart shows the potential for a 10% drop or a push to new highs, depending on market conditions.
XRP tested a trendline as resistance at 58.69 cents. JB emphasizes that the weekly close position will be crucial to watch.
JB concludes by stating that XRP’s future performance remains uncertain, with both bullish and bearish scenarios on the horizon. He suggests that weekly close positions and market conditions will provide more clarity.