Gate.io Блог XRP surged 20% intraday—what’s the outlook for the market?

XRP surged 20% intraday—what’s the outlook for the market?

22 November 17:15

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According to Gate.io data, <a  rel="nofollow noopener noreferrer"  href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> is currently trading at $1.38, with an intraday high of $1.43. Over the past 24 hours, XRP has surged by 22.5%, achieving a circulating market cap of $78.7 billion, ranking 6th in the global <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">cryptocurrency market</a>.
Ripple is a provider of digital asset infrastructure for financial institutions. Its solutions leverage the XRP Ledger and its native digital asset, XRP, enabling fast, low-cost, and highly scalable transactions for developers and financial use cases. Ripple’s track record of working with regulators and policymakers globally has established it as a reliable provider of compliant payment, custody, and stablecoin solutions.
XRP, as the native currency of its blockchain, serves as a convenient tool for cross-border payments and cross-currency transactions, while also being freely tradable in the open market.
Unlike other major cryptocurrencies like BTC, ETH, or <a  rel="nofollow noopener noreferrer"  href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a>, XRP stands out in several ways. While XRP enjoys high visibility and ranks among the top 10 cryptocurrencies by market cap, it lacks a diverse DeFi ecosystem or prominent NFT projects on its blockchain. Unlike BTC or LTC, which are community-driven, XRP is almost entirely controlled by its founding company, Ripple, with minimal participation from an external developer community.
  ![](https://gimg2.gateimg.com/image/article/1732268073screenshot-20241122-163616.png)
## XRP Market Data
- Current Price: $1.3969 USDT
- 24-Hour Increase: 25.63%
- 24-Hour High: $1.4327 USDT
- 24-Hour Low: $1.0957 USDT
- Support Level: $1.1049 USDT
- Resistance Level: $1.4992 USDT
- Market Sentiment: Extreme Greed (Fear and Greed Index: 94)
- Capital Inflows: $1,848,614,142 USDT
- Capital Outflows: $1,850,682,210 USDT
- Net <a  rel="nofollow noopener noreferrer"  href="/price/flow-flow" target="_blank" class="blog_inner_link">Flow</a>: -$2,068 USDT
- KDJ Indicator: 86.55 (Strong upward trend)
- RSI Indicator: 88.14 (Overbought territory)
## Trading Strategy Suggestions
### Strategy 1: Short-Term Long
- Direction: Long
- Entry Price: $1.4000 USDT
- Stop Loss: $1.3500 USDT
- Target Price: $1.4500 USDT
Rationale:
- The current market sentiment of extreme greed reflects strong confidence in XRP, indicating potential for continued short-term gains.
- While the RSI indicates overbought conditions, further upward momentum is plausible.
- A stop loss at $1.3500 USDT manages risk, with a target price near the resistance level of $1.4500 USDT.
### Strategy 2: Short-Term Short
- Direction: Short
- Entry Price: $1.4300 USDT
- Stop Loss: $1.4500 USDT
- Target Price: $1.3500 USDT
Rationale:
- Despite strong market sentiment, high KDJ and RSI levels suggest potential for a short-term pullback.
- Short entry near the resistance level takes advantage of likely corrections.
- A stop loss at $1.4500 USDT limits losses in case of further upward moves.
## Outlook
XRP’s unique design as a bridge currency provides distinct advantages for cross-border payments and currency exchanges. For financial institutions, XRP enables faster and more cost-effective global transfers. For individuals, XRP offers a low-cost, secure, and permissionless way to conduct currency transactions worldwide, circumventing the delays and high fees of traditional financial systems.
Ripple’s resolution with the SEC in August, including a $125 million fine, marked a turning point for XRP in the <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">crypto market</a>. The settlement not only resolved regulatory uncertainty but also positioned XRP as a key participant in global payment systems. This transformation signals the dawn of a new era for Ripple and its digital assets.
<div class="blog-details-info">
<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. Investment involves risks and users need to make careful decisions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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