The XRP price is entering a key phase as the market sorts itself out following last week’s sharp plunge. XRP is currently trading at approximately $2.26, consolidating previous losses that briefly saw it dip below $2.10, with overall sentiment slowly picking up.
This comes at a moment when Ripple is making headlines again. The company has confirmed a massive $500 million strategic investment round led by Fortress Investment Group and Citadel Securities, pushing Ripple’s valuation to $40 billion.
At the same time, the countdown for the first potential XRP ETF continues, with the product automatically going live on November 13 unless the SEC intervenes. Additionally, the XRP Ledger has activated native smart contracts, finally bringing full programmability to XRPL, a feature the community has long awaited.
With the XRP price stabilizing after the recent crash, a significant question remains: where could XRP head this week?
XRP Price Chart Analysis
The XRP chart is still processing the aftermath of last week’s breakdown. Price action remains choppy, but buyers are making a noticeable effort to maintain the $2.20–$2.30 zone.
The bounce from the $2.00 region indicates that the worst of the panic selling may be over for now, and the XRP price appears to be forming a short-term base as volatility cools. The absence of aggressive follow-through on the downside suggests that sellers are losing momentum, even if buyers have not yet fully taken control.
There has also been a clear reduction in impulsive candles, signifying that the market is no longer in a state of panic but rather waiting for a clear signal. Whether XRP moves higher or slips back toward $2.10 will largely depend on the broader crypto market's behavior in the coming sessions.
Market Indicators
Momentum indicators are beginning to stabilize after last week’s significant price movements. The Relative Strength Index (RSI) is positioned in the middle of its range, suggesting a neutral market that is attempting to reset before choosing a direction.
The Moving Average Convergence Divergence (MACD) has also started to flatten out following a sharp burst of downside momentum. The histogram is losing intensity, and the MACD lines are slowly curling upward, though a definitive reversal signal has not yet materialized.
Open interest remains notably lower than it was in late October, indicating that traders have not rushed back into the market with heavy leverage. While this often signals hesitation, in XRP's case, it also suggests that there is potential for a cleaner move if spot buyers return.
The long-versus-short positioning mirrors this sentiment. Shorts are slightly more active than longs, which could create a favorable environment for a short squeeze if the XRP price reclaims the $2.30–$2.35 area.
XRP Price Short-Term Outlook for This Week
Ripple’s XRP has two significant factors supporting its potential upside: major upcoming catalysts and a chart that is no longer in a steep decline. If buyers can push the price back above $2.35, there is a realistic path toward $2.45 and eventually $2.60, a key zone prior to last week's crash.
Furthermore, a breakout above this region would shift momentum back in XRP's favor and reintroduce the possibility of a move toward $2.75 or even higher. However, the realization of these price targets depends on whether the ETF countdown and Ripple’s recent announcements generate sufficient interest to attract traders back to the market.
If market conditions remain quiet, the XRP price may consolidate sideways between $2.20 and $2.35 until the next major update. Conversely, if it breaks below $2.20, the chart could come under renewed pressure, potentially pushing the price back toward $2.10, particularly if Bitcoin experiences another weak period.
Santiment's latest data reveals one of the most encouraging signs for XRP in months. Over a 48-hour period, the network added 21,595 new XRP wallets, marking the highest spike in wallet creation since January. The accompanying chart clearly illustrates this surge, with network growth sharply increasing while the price was still cooling off.
This type of activity often precedes stronger price movements. When new users begin entering the network during periods of weakness, it typically reflects fresh interest rather than purely speculative trading. Historically, the XRP price has seen its best short-term rallies when wallet growth accelerates before price appreciation.
With ETF speculation intensifying, Ripple strengthening its institutional backing, and new smart contract features finally arriving on XRPL, the fundamental outlook for XRP appears significantly stronger than it did just a few weeks ago. If Bitcoin avoids another sharp breakdown, XRP could be among the first large-cap cryptocurrencies to rebound in November.