XRP Price Rises to $1.43 Amid Market Activity
XRP’s price climbed to $1.43, reflecting a 2.16% increase. The market also witnessed $16.78 million in XRP liquidations, according to Coinglass data. The broader cryptocurrency market has turned bullish, with a 1.34% uptick in total market capitalization. Bitcoin remains under pressure at $93K, while Ethereum hovers around $3.4K, drawing attention to altcoins.
XRP experienced a price rally to $1.51 following Gary Gensler’s resignation but has since reversed momentum. The token is now consolidating near $1.40, with intraday highs at this level. XRP’s daily trading volume currently stands at $9.18 billion. Over the past 30 days, XRP has surged by 175%, with a weekly gain of 27.9% and a high of $1.60 on November 23.
Additionally, WisdomTree, a New York-based asset manager, has filed for an XRP ETF in Delaware, marking an initial step toward an official SEC review for the ETF.
Market Outlook: Breakout or Pullback for XRP?
XRP’s four-hour price chart suggests ongoing bearish sentiment. The token may test immediate support at $1.36, with potential to slip below $1.30 if selling pressure intensifies. A further decline could bring the price closer to previous lows.
Conversely, reduced bearish pressure could see XRP retesting resistance at $1.45, with upside momentum potentially pushing it to $1.50 and triggering a fresh rally.
Technical indicators show bearish momentum, with the MACD line below the signal line, signaling a possible downward trend. The Chaikin Money Flow (CMF) indicator at -0.12 reflects negative money flow and heightened selling pressure. Meanwhile, trading volume has dropped by 10.24%.
The 24-hour moving averages indicate the 9-day MA ($1.39) below the 21-day MA ($1.41), suggesting short-term bearishness. XRP remains in a neutral zone, as the daily Relative Strength Index (RSI) sits at 53.14.
As the market fluctuates, XRP’s trajectory will depend on whether it overcomes resistance or succumbs to further bearish sentiment.
