BNB price struggled to clear the $665 resistance zone. The price is consolidating and might aim for a fresh increase above the $635 level.

• BNB price started a downside correction from the $665 resistance zone.
• The price is now trading below $640 and the 100-hourly simple moving average.
• There is a connecting bullish trend line forming with support at $620 on the hourly chart of the BNB/USD pair (data source from Binance).
• The pair must stay above the $600 level to start another increase in the near term.

BNB Price Holds Support

After a close above the $620 level, BNB price extended its increase. However, upsides were limited above $660 and the price remained capped, unlike Ethereum and Bitcoin.

There was a move below the $632 and $620 levels. However, the price is now holding gains above the $600 level. A low was formed at $616 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $661 swing high to the $616 low.

The price is now trading below $620 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $620 on the hourly chart of the BNB/USD pair.

If there is a fresh increase, the price could face resistance near the $626 level. The next resistance sits near the $638 level or the 50% Fib retracement level of the downward move from the $661 swing high to the $616 low. A clear move above the $638 zone could send the price higher.

In the stated case, BNB price could test $650. A close above the $650 resistance might set the pace for a larger move toward the $665 resistance. Any more gains might call for a test of the $680 level in the near term.

More Losses?

If BNB fails to clear the $638 resistance, it could start another decline. Initial support on the downside is near the $620 level and the trend line. The next major support is near the $615 level.

The main support sits at $600. If there is a downside break below the $600 support, the price could drop toward the $585 support. Any more losses could initiate a larger decline toward the $565 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level.

Major Support Levels – $620 and $615.

Major Resistance Levels – $638 and $650.

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The recent Bitcoin rally has driven Coinbase to the ninth spot in global app rankings, followed by Robinhood at 13.

This surge in popularity marks a resurgence of retail interest, as Coinbase was ranked 435 the night before the US elections.

Retail Interest Revives: Coinbase Climbs to Ninth Globally in App Store

Coinbase’s rapid rise reflects retail investors returning to the crypto market, eager to join the Bitcoin rally. With Bitcoin’s price on the rise, users are downloading trading apps in large numbers to participate.

Robinhood, another major trading platform, is also trending upward, now ranking 13 in the US App Store, while CashApp trails behind at number 30. This simultaneous growth for Coinbase and Robinhood shows a renewed demand for easy-to-use crypto trading platforms.

In March 2024, Coinbase reappeared among the top 100 apps for a brief period. It was the first time it had done so since two years prior, marking the beginning of this renewed interest.

Now, its spot in the top 10 confirms a new wave of retail adoption, likely driven by Bitcoin’s recent performance. As retail investors respond to these market shifts, the crypto space appears to be gaining fresh momentum.

When Bitcoin and other cryptocurrencies surge, retail investors flock to trading platforms, fueling increased app downloads. Robinhood’s ranking at 20th also suggests that traditional trading apps that cater to retail crypto demand stand to make significant gains.

Known primarily for stock trading, Robinhood now attracts users seeking both stock and crypto investments in a single app. This rise of Robinhood signals that retail investors want easy, simplified access to crypto, especially during price surges.

“Bitcoin sentiment check: Coinbase App Store ranking on apple iOS 7 day moving average = 191 Possibly only 1-2 weeks away from hitting extreme levels, based on the current pace. *The app reached no.1 in December 2017, April 2021, and November 2021,” said one analyst on X on November 11.

Polymarket Bets on the Bitcoin Rally

Polymarket bettors have been quick to jump on the subject. At the time of writing, users estimate a 58% chance that Coinbase will remain among the top 10 free apps on November 15.

In the crypto industry, app rankings often signal market enthusiasm and can indicate an approaching bull market. This trend also highlights how retail adoption shapes the market for crypto apps.

As platforms like Coinbase climb app rankings, they reveal the crypto market’s vibrancy and responsiveness to price gains. If this pattern persists, more crypto apps could gain popularity, attracting even more retail investors.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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XRP price is up over 15% and moving higher above the $0.740 support zone. The price could accelerate higher if it clears the $0.8450 resistance zone.

• XRP price started a strong increase above the $0.720 resistance.
• The price is now trading above $0.750 and the 100-hourly Simple Moving Average.
• There is a key bullish trend line forming with support at $0.7400 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could start another increase if it stays above the $0.7240 support zone.

XRP Price Gains Strength

XRP price remained supported above the $0.620 level. It formed a base and started a strong increase above $0.7000. It outperformed Bitcoin and Ethereum in the past two sessions, with a move above the $0.740 resistance.

The price even climbed above the $0.850 level before the bears appeared. A high was formed at $0.8989 before there was a pullback. The price dipped below $0.820 and tested $0.720. It tested the 61.8% Fib retracement level of the upward move from the $0.6700 swing low to the $0.8989 high.

The price is now trading above $0.750 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.740 on the hourly chart of the XRP/USD pair. The trend line is close to the 76.4% Fib retracement level of the upward move from the $0.6700 swing low to the $0.8989 high.

On the upside, the price might face resistance near the $0.8450 level. The first major resistance is near the $0.8880 level. The next key resistance could be $0.900. A clear move above the $0.900 resistance might send the price toward the $0.9250 resistance.

Any more gains might send the price toward the $0.9550 resistance or even $0.9620 in the near term. The next major hurdle might be $0.9850.

Are Dips Limited?

If XRP fails to clear the $0.8450 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.80 level. The next major support is near the $0.7550 level.

If there is a downside break and a close below the $0.7550 level, the price might continue to decline toward the $0.740 support in the near term. The next major support sits near the $0.7240 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.8000 and $0.7550.

Major Resistance Levels – $0.8450 and $0.8880.

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