|

Can XRP price kick-start 30% upswing if China removes zero-Covid restrictions?

  • XRP price struggles with the $0.400 hurdle as it attempts to flip it into a support level.
  • If China lifts its zero-Covid restrictions, it could trigger a rally in risk-on assets.
  • The remittance token could embark on a 30% rally to collect the buy-stop liquidity resting above $0.510.

XRP price shows that it is taking its sweet time to overcome and sustain above a crucial resistance level. If successful, it could catalyze a quick run-up. However, the lack of volatility in crypto markets has made it impossible for the remittance token to do this by itself.

A change in China’s Covid policy breathes hope

The much-needed volatility might come in the next two hours. A news conference is likely to be held at 0700 GMT in Beijing by the Joint Prevention and Control Mechanism of the State Council in China. There are speculations that China might announce lifting its zero-Covid policy. This development could ease the tensions among investors who moved to safe-haven assets after protests broke out in China.

China state affiliated media

If there is an announcement that confirms the lifting of the zero-Covid policies, it could provide a bullish push for risk-on markets, including cryptocurrencies.

XRP price ready to make a move

XRP price sliced through the $0.400 hurdle on November 22 but failed to sustain above it. As a result, the altcoin slipped below the aforementioned level. Bullish rumors from China could bring much-needed volatility with it, triggering a successful breakout.

In such a case, XRP price will aim to collect the buy-stop liquidity resting above the $0.510 equal high. This move would constitute a 30% upswing and is likely where the upside is capped for the remittance token.

XRP/USDT 1-day chart

XRP/USDT 1-day chart

On the other hand, if XRP price fails to hold above the $0.379 support level, it will invalidate the bullish thesis. This development could see the remittance token slide to the $0.316 foothold, where buyers can band together and scoop XRP at a discounted price.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Editor's Picks

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.

Bitcoin extends gains as ETF inflows persist despite broadening US-Iran war

Bitcoin hovers around $73,000 on Thursday, driven by the US Stock market recovery, boosting risk-on sentiment. Data shows analysts are mostly bullish on Bitcoin, citing renewed demand from institutional investors, on-chain holders, and the derivatives market.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Pi Network eyes breakout rally as broader market recovers

Pi Network (PI) price extends gains above $0.1900 at press time on Thursday, following a 7% increase the previous day. The upcoming token unlock of more than 20 million PI tokens on Saturday looms over the short-term recovery. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.