XRP's November Price Potential: Analyzing the Factors at Play
Key Insights
- XRP could experience a 12% to 18% price increase in November based on historical patterns.
- Record-high XRP withdrawals from exchanges are enhancing bullish prospects.
Despite a 7.5% decline in October, XRP (XRP) showed a dramatic 109% recovery from its mid-October lows. This surge followed strategic developments, such as Evernorth's $1 billion XRP purchase and Ripple's favorable mention in its Hidden Road acquisition.
XRP's Prospective November Rally
The current price rebound of XRP mirrors a fractal pattern seen in early 2025. During April and June, XRP rebounded from a long-term ascending trendline, serving as a critical accumulation zone. The April rally drove XRP into the $3.20 to $3.40 range, aligning with the 0.5 to 0.618 Fibonacci retracement levels.
In June, the price reached a new high of around $3.66. If this pattern repeats in November, a neutral RSI suggests an initial move towards $2.77, aligning with the 0.382 Fibonacci level and the 20-day EMA. A break above $2.77 could trigger further gains towards the $2.75 to $3.00 range, indicating a potential 12% to 18% rally.
Record XRP Exchange Outflows
On October 19 and 20, XRP's exchange net position change fell by 2.78 million, marking a historic low, according to Glassnode. This coincided with Evernorth's major XRP acquisition. By Monday, the firm had accumulated over 388.71 million XRP, worth approximately $1.02 billion, as reported by CryptoQuant. Such outflows typically signal strong accumulation by large holders, reducing immediate sell pressure.
XRP Short Liquidations Could Drive Prices Higher
XRP's largest near-term liquidity cluster is around $2.68, with approximately $15.91 million in leveraged positions at risk, according to CoinGlass. This area represents about $39.1 million in potential short liquidations, potentially leading to short squeezes that push prices towards $2.75 to $3.00.
This article does not offer investment advice. All trading activities involve risk, and readers should perform their own research before making decisions.