Bitcoin

Resistance

Mantle

<ul class="wp-block-list">
 <li>XRP faces correction after November’s meteoric 354% rally.</li>
 <li>Bitcoin dominance shifts capital, pressuring XRP’s price action.</li>
</ul>
XRP’s meteoric rise, which saw the token gain over 340% in the past month, is now encountering a sharp correction. Over the past seven days, XRP surged by 40%, only to drop by 5% in the last 24 hours, with trading volume declining by 51% and its market capitalization shrinking by 8% to $133 billion. This decline has pushed XRP to fourth place in market cap rankings, below Tether (USDT).
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdiOwwWS-k7azF8gxII6bjt0BtySMEs9iDDyvMr1-VBMsDnKquF-w13QYHEBaHmnPhBZufd1tDllTrptRV10hmUgXS7AnmpIHL5rSm0PZSboDucIa1VnVyxYetSYE8hhth0a2N_jQ?key=WGuuBi4_s8ntghtgG2NRmp_5" alt="">
 <figcaption class="wp-element-caption">
 XRP Price Chart, Source: Sanbase
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The current sell-off follows XRP reaching a multi-year high of $2.90 on December 3, only to retrace 25% since then. Notably, <a href="https://thenewscrypto.com/are-bears-gaining-control-as-bitcoin-drops-below-100k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>‘s record-breaking rally past $100,000 has shifted market focus, potentially contributing to XRP’s downturn.
Moreover, market dynamics also highlight XRP’s struggle. Data from CoinGlass shows over $12.8 million in long positions were liquidated on December 5, as open interest dropped from $4.3 billion the day prior. Bearish sentiment is apparent, with the long/short ratio at 0.98 and 50.8% of traders holding short positions.
However, technical <a href="https://thenewscrypto.com/will-hedera-sustain-bull-run-as-price-flips-to-brief-bearish-trend/" target="_blank" rel="noopener noreferrer nofollow">analysis</a> indicates mixed signals. XRP recently formed a bull flag pattern, which, if confirmed with a decisive close above $2.37, could target a new all-time high of $4.83. Conversely, failure to hold this level might see the token retest supports at $2.20 or even $2.00.
<h3 class="wp-block-heading" id="h-xrp-bears-hunts">XRP Bears Hunts</h3>
Adding to the uncertainty is Ripple’s delayed RLUSD stablecoin launch, which has dampened investor sentiment. Despite the bearish pressure, significant XRP outflows worth $288 million from exchanges suggest long-term holding sentiment among whales, hinting at potential upside momentum.
As of press time, XRP <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at $2.26, <a href="https://in.tradingview.com/symbols/QNTUSDT/" target="_blank" rel="noopener noreferrer nofollow">down</a> 5.4% in 24 hours, with reduced participation from traders. While the token’s strong November performance remains a highlight, its future trajectory hinges on breaking resistance levels and broader market trends.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/mantle-mnt-eyes-2-amidst-a-bullish-surge/" rel="noopener noreferrer nofollow">Mantle (MNT) Eyes $2 Amidst a Bullish Surge</a>

Will XRP Break Resistance or Slide Further?

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