XRP, NEAR, HYPE and XLM Face Severe Market Pressure Amid Technical Declines
Key Summary
Major digital assets faced mounting selling pressure as XRP tumbled to $1.096 and NEAR dropped 39.0% from local peaks. Hyperliquid slipped to $75 while Stellar retreated toward May accumulation ranges as technical indicators signaled ongoing market weakness.
Key Bullets
- XRP traded down to $1.096 after sliding 18.0% from its recent $1.34 recovery high while exchange RSI levels dropped below 30.
- Near Protocol fell 39.0% from its October peak to $3.66 on November 9, though Bitwise held 15.69M NEAR in staked assets.
- Hyperliquid broke key moving averages down to $75 as netflow remained negative despite ongoing institutional disclosures.
- Stellar dropped 37.0% from its $0.235 September peak toward May accumulation ranges while awaiting the November 23 Bell Protocol upgrade.
XRP Tests Critical Dollar Support
Trading at $1.096, XRP lost 18.0% from its $1.34 local peak, erasing prior recovery gains and trading below major moving averages. According to market order books monitored on spot exchanges, the nearest downside floor sits at the $1.075 session low. Additional technical support gathers near the $1.03 to $1.05 range.
Daily RSI readings slipped below 30, placing the asset in oversold territory. Buyers remained largely absent from order books. A potential recovery requires defending the $1 level to prevent a broader retracement toward the summer lows.
Near Protocol Staking Metrics Hold
Near Protocol dropped toward $3.66 on November 9, marking a 39.0% decline from its October peak of approximately $6. Trading volume stayed substantially below September breakout levels, according to the daily NEAR/USDT chart. Institutional exposure remained active through the Bitwise spot NEAR ETF, which held 15.69M NEAR valued at $58.21M as of November 5.
Fund reporting confirmed that 99.0% of the institutional holdings remained staked. Lower volume failed to signal an immediate end to persistent selling pressure across broader spot markets.
Hyperliquid And Stellar Extend Losses
Hyperliquid slipped to $75 after violating important moving averages, driven by negative exchange netflows and an RSI hovering near 40. Immediate support levels formed between $72 and $73, with resistance resting at $78 to $80. Stellar dropped 37.0% from its $0.235 September peak, returning to accumulation ranges last seen in May.
Stellar RSI breached 30 while trading below downward-sloping moving averages. Network developers awaited the scheduled November 23 vote on the Bell Protocol upgrade number 30, which introduces post-quantum signature verification and millisecond ledger timing.
Impact score:3 out of 5 | Narrative Tracker:Exchange Operations & Market Liquidity
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