Resistance

Verge

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<p dir="ltr"><a href="https://u.today/xrp-price-on-verge-heres-what-bollinger-bands-show">XRP</a> has recorded a massive uptick in the ongoing bullish run on the broader cryptocurrency market. Positive market sentiment has resurfaced, pushing XRP to breach three resistance levels of $1.20, $1.30 and $1.40. The coin is now on the verge of marking a major milestone — breaching the $1.50 level.</p>
<h2 id="xrp-eyes-higher-milestones">XRP eyes higher milestones</h2>
<p dir="ltr">Thus far this week, investors anticipated the token’s climb to this level as its large community continued supporting it despite its regulatory challenges.</p>
<p dir="ltr">In earlier trading within the past seven days, the token had<a href="https://coinmarketcap.com/currencies/xrp/">soared</a> to $1.62 before experiencing a price correction amid market volatility. The news of Securities and Exchange Commission (SEC) Chair Gary Gensler’s planned departure also pushed the token to that price level.</p>
<p dir="ltr">The fluctuation saw XRP dip to $1.29 as the token struggled to stay above the critical $1.20 support level. However, following an <a href="https://ripple.com/ripple-press/archax-provides-access-to-abrdn-money-market-fund-on-the-xrp-ledger-in-collaboration-with-ripple/?utm_campaign=&amp;utm_medium=organic_social&amp;utm_source=twitter">announcement</a> of a collaboration between Archax and Ripple Labs, XRP began another rebound.</p>
<img src="https://u.today/sites/default/files/inline-images/XRP_7D_graph_coinmarketcap%20%284%29.jpeg" data-entity-uuid="ce974866-a756-4600-bcf0-02c22e755c34" data-entity-type="file" alt="XRP price" data-caption="<a href=&quot;https://coinmarketcap.com/currencies/xrp/&quot;>XRP 1D Price Chart. Source: CoinMarketCap</a>">
<p dir="ltr">Notably, the partnership involves launching the first tokenized money market fund, where Archax provides access to abrdn products on the XRP Ledger.</p>
<p dir="ltr">As XRP continues its bullish run, the community and investors alike look forward to the token sustaining its momentum. There is an expectation that if XRP can breach $1.50 and stay above it, the token stands a chance of testing other levels, including the $2 high.</p>
<h2 id="regulatory-developments-fuel-optimism">Regulatory developments fuel optimism</h2>
<p dir="ltr">Market sentiment favors a possible sustained surge in XRP's price. For instance, XRP’s open interest recently hit new peaks of $2.6 billion. Per an <a href="https://u.today/xrp-open-interest-hits-new-record-peak-is-major-move-on-the-horizon">earlier U.Today report</a>, the open interest surge followed speculations of the launch of the XRP exchange-traded fund (ETF).</p>
<p dir="ltr">Meanwhile, asset manager WisdomTree joined the <a href="https://u.today/xrp-scores-new-etf-filing-as-price-remains-in-green">race for an XRP ETF</a> with a filing on Nov. 25. WisdomTree joins others like 21Shares, Canary Capital and Bitwise that have filed for an ETF product tracking the coin.</p>
<p dir="ltr">With many in the broader cryptocurrency space expecting a shift away from regulatory attacks on Ripple Labs after Jan. 20, investors have continued to bet on XRP.</p> <a href="https://u.today/xrp-on-verge-of-breaching-key-resistance-level">Read original article on U.Today</a>

XRP on Verge of Breaching Key Resistance Level

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