Crypto Price Analysis Nov-6: ETH, XRP, ADA, BNB, and HYPE

Deepika IyerNovember 6, 20263 min read

Today, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

In the past 48 hours, the crypto market has been extremely volatile as the mid-term elections in the US concluded. Ethereum quickly rallied by 10% only to erase those gains in full a day later, thus reconfirming $2,400 as resistance. This also made the weekly price flat.

Sellers have total control over the price, considering that the past five weekly candles are red with clear lower lows. In this context, it’s unlikely ETH can do much but seek support closer to $2,000.

Looking ahead, the correction for the leading altcoin is far from over. The first key level that may have a shot at reversing this is found at $2,000. If that support won’t hold, then bears will push towards $1,800 next.

Ripple (XRP)

XRP had a bad week and closed 6% lower as sellers continue to dominate and push the asset to new lows. At the time of this post, the cross-border token is found around $1.2, but may soon find itself moving closer to the key support at $1.1 and $1.

Due to the recent volatility, XRP’s downtrend appears to be accelerating with no sign of relief. This is why sellers may be determined to test $1 before they run out of steam.

Looking ahead, the token is likely to explore lower levels before finding support. If $1.1 won’t hold, then buyers have a good shot at defending the price around $1 since this level held well back in August.

Cardano (ADA)

ADA is in the same boat as Ethereum and is about to close its fifth weekly candle in red. It also fell by 5% this week. This correction has now erased more than half of the gains made during the previous rally in August and September.

Hopefully, buyers will start to show up around current levels, with good support expected at $0.18 and $0.16. If sellers somehow manage to break below both these levels, then Cardano will be forced to re-test the support at $0.15 that was last visited in June.

Looking ahead, buyers have to show up on the order book, as the alternative is a quick drop back to the starting point from July. Such a scenario would be a bearish signal that ADA cannot sustain current prices and may be forced lower still.

Binance Coin (BNB)

Binance Coin dropped to the key support at $690 and is currently being contested at this level. Considering the market context, sellers may have the upper hand. If successful, then BNB will likely fall to $580 next.

The asset also closed the week 4% lower after it faced pressure from sellers. As previously noted, Binance experienced the biggest crypto hack in history and has recently reopened withdrawals, which saw roughly $5 billion leave the exchange.

Looking ahead, expect a bumpy road for BNB as it seeks support and a new equilibrium. This will likely depend on how Binance manages the impact of the recent hack and its fallout.

Hype (HYPE)

HYPE has seen similar volatility where the recent rally towards its all-time high at $97 was completely erased a week later. That forced it to close the week 17% lower, which makes it the worst performer on our list.

This change of momentum is extremely bearish and raises questions about whether the price has topped, at least in the immediate future. Even more concerning, price action since the start of 2025 has formed a huge bearish wedge that is about to resolve.

Looking ahead, if Hyperliquid fails to sustain its current price and falls below the wedge in blue on the chart, then the top was likely in at $97, and it will take months before it can be challenged again, likely sometime in 2027.