XRP price recently experienced a significant surge, climbing from $0.53 to $0.73 following the news of Trump’s victory in the U.S. elections and amid an overall market rebound. However, XRP faced a notable resistance at $0.73—close to its yearly high of $0.74, last reached in March. This resistance point has prompted mixed market reactions and left investors watching closely for the token’s next move.
According to a recent analysis by Santiment, XRP has been under significant community attention, with Ripple's market dynamics seeing heightened activity. After achieving a 45% breakout over the past week, XRP hit resistance at $0.73 and has since settled around $0.65, experiencing increased volatility.
Another critical signal in the market has been Binance’s funding rate data, which reveals the highest long-to-short ratio for XRP since March 31. Historically, such a skewed ratio, with long positions heavily outnumbering shorts, often indicates a potential for correction if bullish momentum fades.
The token’s popularity on social media has also surged, accounting for over 4% of all cryptocurrency discussions—a spike that may have played a role in driving recent price gains. However, historical data suggests caution, as social dominance spikes for XRP have previously coincided with both local tops and bottoms in the price, underscoring the possibility of short-term volatility.
At the time of writing, XRP is priced at $0.6630, with a 24-hour high of $0.7407 and a low of $0.6062. Market participants are now eyeing the token’s next move, with mixed technical indicators signaling a potential consolidation or retracement in the near term.
