XRP began November 8 on a soft note, dipping to $2.28 after a 2.1% slide on the day and a steeper 9.2% fall over the past week. Once hailed as one of the fastest-rising large-cap tokens, XRP now faces fresh questions about its near-term trajectory.
Market Snapshot
At press time, XRP’s market capitalization clocks in at about $136 billion, while 24-hour trading volume hovers near $3.33 billion. Intra-day swings have kept the token between $2.25 and $2.36, reflecting choppy trading and cautious sentiment among traders.
Technical Breakdown
On the charts, XRP has broken below its 50-day moving average around $2.35, signaling a shift toward bearish momentum. The Relative Strength Index edges closer to oversold territory, suggesting the potential for a short-term bounce. Key support sits at $2.20, while an upside breakout above $2.40 would be needed to restore bullish confidence.
Investor Reactions
Retail traders on social platforms are split between calls for a fresh buy-the-dip opportunity and warnings that XRP’s recent gains may be exhausted. Meanwhile, data shows a cluster of whale-sized orders just below $2.25, indicating that larger holders could step in if prices slip further.
Looking Ahead
Ripple’s ongoing legal developments remain a focal point for XRP’s outlook. Any favorable turn in regulatory clarity could ignite renewed rallies, while broader cryptocurrency market trends—led by Bitcoin’s performance—will also play a major role. Macro factors such as interest-rate policy and risk sentiment may equally impact short-term momentum.