- Ripple price prints over 5% gains halfway through the trading week.
- XRP gets upward pressure from an ascending trend line with two firm tests.
- Expect another squeeze at a key moving average that could erupt into a 10% rip.
Ripple (XRP) price is on the cusp of printing a very solid week of gains as it currently builds a three-day winning streak.XRP price just needs to hold its gains until the US closing bell. Sentiment flipped 180 degrees late Tuesday evening as equities rallied into Thanksgiving as a Christmas surprise could get underway. With several traders and desks scrambling to still eke out at least some gains for the year, expect this to be the moment where every trader needs to be part of at least something.
XRP set to rally as the turkey gets underway
Ripple price was already a beacon of light in the dark crypto winter last week as it held its gains over the weekend against several other cryptocurrencies that rather saw themselves being downgraded to the lower ends of their trading range. For over two years, XRP often was the outlier and the one falling behind Ethereum and Bitcoin. The harsh crypto winter and the spillover from FTX and LUNA look to polish the image of XRP as it remains quite stable and is set to pop higher as demand for cryptocurrency accelerates.
XRP is able to make gains as it broke above the key pivotal level at $0.3710 from the past summer. The next hurdle is a big one with the 200-day Simple Moving Average (SMA) that acted as a cap throughout November on two previous occasions. A perfect scenario is propping up with a big batch of US data arriving before the holiday season starts.XRP is set to break that same 200-day SMA and rally up to $0.4228, printing over 10% from where XRP is currently trading.
XRP/USD daily chart
Do not look too far for why this Thanksgiving rally could fail, as the 200-day SMA already has proven it is a force to be reckoned with. With two firm rejections not long ago, a third one could still be in the cards and push XRP back to $0.3710. If XRP trades even lower and starts to break below that green ascending trend line, that will be the queue for bulls to get out as it is set to fully reverse back to $0.32 on the back of that price action.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.
US SEC may declare XRP a 'commodity' as Ripple settlement talks begins
The US SEC is considering declaring XRP as a commodity in the ongoing settlement talks with Ripple Labs. FOX News reports suggest Ethereum's regulatory status remains a key reference for XRP’s litigation verdict.
Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.
Stablecoin regulatory bill receives green light during Banking Committee hearing
The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.