Ethereum

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<ul class="wp-block-list">
 <li>XRP price climbed to $1.43 after gaining over 2%.</li>
 <li>The market saw a $16.78 million liquidation of XRP.</li>
</ul>
The crypto market has turned bullish, with a 1.34% increase in total market cap. While Bitcoin still eyes the $100K threshold, it has plunged to $93K. Meanwhile, Ethereum is trading around the $3.4K range and drawing attention to the altcoin market.&nbsp;
However, Ripple’s native token, XRP has encountered a brief spike in price by 2.16%. Following Gary Gensler’s resignation, the price rallied to hit the $1.51 level and reversed the momentum. Currently, the altcoin is consolidating near the $1.40 zone.&nbsp;
The altcoin’s intraday high was observed at $1.40 and has continued to <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">trade</a> at the current levels. At the time of writing, XRP was trading at $1.43 with its daily trading volume resting at $9.18 billion. Consequently, a $16.78 million liquidation of XRP was observed in the market, as per Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data</a>.
XRP price has surged over 175% in the last thirty days and it continued gaining momentum by 27.90% over the past week. The <a href="https://thenewscrypto.com/xrp-achieves-1-milestone-amid-market-optimism/" target="_blank" rel="noopener noreferrer nofollow">altcoin</a> hit a weekly high of $1.60 on November 23.&nbsp;
On the other hand, WisdomTree, a New York-based asset management firm, has <a href="https://thenewscrypto.com/asset-management-firm-wisdomtree-files-xrp-etf-registration-in-delaware/" target="_blank" rel="noopener noreferrer nofollow">filed</a> a registration for an XRP ETF with the state of Delaware. This filing represents the preliminary step in the ETF launch process, preceding a formal S-1 registration with the SEC, which will initiate the official review process.
<h3 class="wp-block-heading" id="h-will-xrp-break-out-or-pull-back">Will XRP Break Out or Pull Back?</h3>
The four-hour price chart of XRP exposed the ongoing negative sentiment. XRP’s price could likely test its immediate support around $1.36. If the selling pressure amplifies, the price might probably slip below $1.30. Further depreciation could drive the asset’s price back to its previous lows.&nbsp;
On the other side, if the bearish pressure wanes, the altcoin might retest the nearby resistance at $1.45. If the upside momentum persists, XRP could push the price toward the $1.50 mark to kickstart a fresh increase.&nbsp;
Moreover, XRP’s technical indicators disclose the Moving Average Convergence Divergence (MACD) line beneath the signal line, suggesting the downside momentum and an imminent bear run.
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfQtymobfPtR1p1IESVPPSe30JCRXStCnWosLsFyaEKOpZh3_y4tLD6RipgCvpKluSlUN85wgdmB5S9ahX_S_na8zxJfi0-6wPFwavAn2nDVAQoSTUuC-XviWQFxlo9oBs3TXljlA?key=q4xfRGaOc49w8Kv_SOdKmplR" alt="">
 </figure>
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Besides, the Chaikin Money Flow (CMF) indicator is laid at -0.12, which infers negative money flow and selling pressure and reflects more outflows. Meanwhile, the asset’s trading volume has dropped by 10.24%.
The 24-hour frame of the asset <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3AXRPUSD" target="_blank" rel="noopener noreferrer nofollow">reveals</a> the short-term 9-day moving average below the long-term 21-day moving average at $1.39 and $1.41, respectively. In addition, XRP is positioned in the neutral zone in the market, as the daily relative strength index (RSI) is positioned at 53.14.

XRP Bulls Eyeing $1.50 Amid Bearish Hold

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