XRP News Today: XRP's Golden Cross Momentum Faces Challenges as Long-Term Investors Exit

XRP Surges Following Hourly Golden Cross and ETF Launches

XRP has recently captured the spotlight after forming an hourly golden cross—a technical event where a short-term moving average moves above a long-term one, often interpreted as a sign of potential upward momentum. This bullish crossover happened as XRP’s price jumped 7.05% within 24 hours to reach $2.20, significantly outperforming the overall cryptocurrency market, which saw a 1.97% increase during the same period.

This price rally coincided with the introduction of two U.S.-based spot XRP exchange-traded funds (ETFs): Grayscale’s GXRP and a fund from Franklin Templeton. Together, these ETFs attracted $164 million in net inflows on their first day, boosting market liquidity. As a result, XRP’s daily trading volume soared by 53.9% to $6.3 billion, indicating heightened interest from both institutional and retail investors.

Technical Analysis and Market Sentiment

While golden crosses are typically identified using 50- and 200-period moving averages, this signal appeared on the hourly chart with shorter 9- and 26-period averages, a method often used to spot quick trend reversals. Analysts have set a short-term price target of $3 for XRP, provided the price remains above the $2.20 support level. With the Relative Strength Index (RSI) at 56.06, XRP is not considered overbought, suggesting further upside potential without immediate risk of exhaustion.

However, blockchain data reveals a mixed outlook. Short-term investors have been accumulating XRP, but long-term holders have increased their selling, offloading 84 million XRP by November 25—a 56% rise from the previous week. This trend raises questions about profit-taking and waning confidence among long-term investors, especially as the Net Unrealized Profit/Loss (NUPL) indicator approaches a zone historically linked to market peaks.

Shiba Inu (SHIB) Sees Massive Volume Spike Amid Attempted Rebound

Shiba Inu (SHIB) also made waves with a dramatic surge in trading volume, reaching 1.36 trillion tokens as it tried to recover from November’s losses. This spike, occurring near key support levels, is interpreted as accumulation by strong investors, in contrast to weaker holders exiting their positions. Analysts note that such intense volume flushes followed by absorption often signal a potential shift in price direction. Despite this, SHIB continues to face resistance, struggling to climb above the $0.0000080 mark, which previously served as a support during October’s downturn.

Bitcoin Faces Bearish Patterns as Market Caution Grows

Meanwhile, Bitcoin is showing signs of weakness. Veteran trader Peter Brandt has identified a “dead cat” pattern in Bitcoin’s recent five-wave decline from $120,000 to the low $80,000s. The cryptocurrency has been consolidating between $88,000 and $92,000, a range it has been unable to break for several days. Market indicators point to a cautious environment, with declining liquidity, wider bid-ask spreads, and inconsistent ETF flows. For example, BlackRock’s IBIT ETF has experienced several sessions of net outflows, while smaller ETFs have posted mixed results.

Comparing ETF flows, XRP’s products have outperformed those tied to Solana (SOL), which have seen $156 million in weekly outflows. This divergence highlights ongoing concerns about technical and regulatory risks facing Solana’s ecosystem.

Macro Factors and the Road Ahead

The broader outlook for cryptocurrencies remains closely linked to macroeconomic developments, particularly the Federal Reserve’s upcoming decision on interest rates. With a 70% chance of a rate cut in December, investors are considering the possibility of renewed liquidity entering riskier assets. However, any market rebound is expected to be selective, favoring altcoins with strong institutional support and clear regulatory status. XRP’s recent ETF-driven inflows and technical strength make it a leading candidate, but maintaining prices above $2.20 will be essential to avoid a potential pullback.