• XRP price tries to break above the ongoing range, extending from $0.316 to $0.403.
  • A breakout from this consolidation could see the remittance token rally 35% and retest the $0.509 hurdle.
  • Invalidation of this bullish outlook will occur if Ripple holders fail to defend the $0.316 barrier.

XRP price action last week was disappointing as it slid below a significant support level, flipping it into a blockade. As seen between June and September, the altcoin faced immense selling pressure from the said hurdle that hindered bullish breakout attempts multiple times.

Interests in the SEC vs. Ripple lawsuit seem to be renewed as Coinbase, a poster child for crypto exchanges in the US, joins the battle in support of the defendant. As reported in a previous article, the presiding US District Judge, Analisa Torres, granted motions to the defendants’ 12 backers to file their Amicus Briefs.

One of these twelve supporters includes the well-known crypto exchange, Coinbase. Due to these developments in the lawsuit that tips the scale in Ripple’s favor, investors need to keep a close eye on XRP price.

XRP price edges closer to a breakout

XRP price slid below the $0.381 support level on November 8 and has created a smaller range, extending from $0.316 to $0.403. The altcoin hovers in the upper half of the region, suggesting underlying bullish enthusiasm.

Due to the proximity of the $0.381 and $0.403 hurdles, it will take a lot more than a few buyers’ hope. However, a sudden spike in Bitcoin price over the weekend could see XRP price follow suit and push higher. In such a case, investors can expect the remittance token to tag the immediate hurdle at $0.448.

Clearing this blockade will allow XRP price to stay on the path and revisit the $0.509 hurdle, above which rests buy-stops. A sweep of this liquidity will likely signal an end of the uptrend, bringing the total gain to 35%.

XRPUSDT 12-hour chart

XRPUSDT 12-hour chart

While things are looking up for XRP price, a breakdown of the range’s midpoint at $0.359 will shake the investor confidence. This move could send the altcoin toward the range low of $0.316.

If buyers step up and attempt a recovery, things will remain unchanged for investors. However, a twelve-hour candlestick close below $0.316 will invalidate the bullish thesis. Such a development could send XRP price crashing to retest the $0.288 support floor.

 


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


Recommended Content

Editors’ Picks

Bitcoin holds steady, Fed warns of tariffs’ impact, as Gold hits new highs

Bitcoin holds steady, Fed warns of tariffs’ impact, as Gold hits new highs

Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries.

Official Trump massive $300M token unlock spells doom

Official Trump massive $300M token unlock spells doom

Official Trump ($TRUMP), the Presidential meme coin launched in January by the United States (US) President Trump family’s World Liberty Financial company, is in a precarious situation that could see volatility spike significantly. 

How will President Trump's threat to Powell affect Bitcoin?

How will President Trump's threat to Powell affect Bitcoin?

Bitcoin (BTC) traded above $84,000 on Friday as President Donald Trump slammed Federal Reserve (Fed) Chairman Jerome Powell for not cutting interest rates on time. Trump pointed to the European Central Bank (ECB) lowering rates by 25 basis points, urging Powell to do the same in the US.

Slovenia moves to impose 25% tax on crypto traders

Slovenia moves to impose 25% tax on crypto traders

Slovenia has become the latest European Union member state to crack down on untaxed crypto gains, unveiling a proposal to impose a 25% tax on personal profits from digital asset disposals starting in 2026. 

More Cryptocurrencies News
Bitcoin Weekly Forecast: BTC holds steady, Fed warns of tariffs’ impact, as Gold hits new highs 

Bitcoin Weekly Forecast: BTC holds steady, Fed warns of tariffs’ impact, as Gold hits new highs 

Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries. 

Read full analysis
The Best brokers to trade EUR/USD

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.

Read More

BTC

ETH

XRP