Crypto Price Analysis Nov-01: XRP, BNB, SOL, DOGE and MKR

This week, we'll examine Ripple, Binance Coin, Solana, Dogecoin, and Maker in more detail.

Ripple (XRP)

The week started well for XRP, but the price action turned weak on Wednesday, closing the week with a 3% loss. If buyers do not return soon, this cryptocurrency may retest the support at 48 cents.

Since September, XRP has been in a downward trend after failing to maintain itself above 60 cents. With clear lower highs and lower lows, this downtrend may continue for some time until a base is found from which buyers will try to recover.

Looking ahead, XRP may remain below 54 cents, which is currently acting as key resistance. If the volume continues to decline, the price may reach a critical divergence between key levels.

Binance Coin (BNB)

Binance Coin failed to break above the $600 resistance and was pushed by the bears. That's why it closed the week with a 3% loss. There have been several attempts to move more than $600 in the past, but all have been rejected.

Considering the lack of clear dispersion, the price is stuck in a tighter range. Eventually BNB will have to escape as it tightens around it. The current trend does not provide a clear path forward, but sellers may be seen to increase the price to $550 again.

Looking ahead, the bias on this price action is neutral, but the daily MACD recently formed a bearish cross, which could encourage sellers to be more aggressive in the coming days.

Solana rallied to $183 and then sellers returned to push the price to the key support at $164. This reversal price is down 4% this week. Any weakness could threaten the gains made in October, so it is very important for buyers to defend $164.

The daily MACD just made a bearish cross, which could indicate that sellers are coming back. However, key support must be lost in order to be verified. If that happens, the SOL could revisit $160 or even $150.

Looking ahead, Solana is at a critical juncture. If buyers can hold on to this rebound, it has a good chance of continuing to rise.

Dogecoin (DOGE)

DOGE was one of the coins that closed the week in the green with an impressive 13 percent price increase. This comes after bulls broke from resistance at 14 cents. Once the price escapes this key level, buyers rush in.

The rally stopped below 18 cents. Nevertheless, this separation is significant and shows that DOGE is ready to aim much higher. The resistance at 22 cents is now the most important target on the chart.

Looking ahead, Dogecoin is riding a strong bullish momentum. Unless this is caught, this meme coin is likely to dominate the headlines in the coming weeks.

Maker (MKR)

After the price tested the support at $1,000, buyers returned. This maker has seen it grow and quickly rallied over 13% this week alone. Current resistance is at $1,270 and is being defended at the time of this post.

If buyers can sustain the current bullish momentum, their next target will be at $1,500. The decline comes after the maker suffered through a long downtrend that began in April 2024. The price needs to break above $1,500 to get confirmation that the downtrend is over.

Looking ahead, Maker has a real opportunity here to enter a sustained recovery and erase some of the losses from April. This is a great start with a great voice, but it needs to continue. Otherwise, it's another downtrend.

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