XRP is up by less than 1% and is now trading above $2.
The cryptocurrency could rally towards the $2.2 level in the near term.
XRP recovers as selloff temporarily halts
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) begin the new week positively as they slightly recover from last week’s massive correction. These top three cryptocurrencies are currently trading above their key support levels, suggesting recovery continuation.
Despite that, the market sentiment remains fragile, and the bearish trend could continue. XRP has lost 10% of its value since last week as the broader crypto market liquidated over $1 billion worth of leveraged positions within hours.
The massive liquidations came as Bitcoin dropped towards the $81k level, while XRP failed to hold its value above $2.0. Ether also dropped below $3k for the first time in months.
However, the market is showing signs of recovery, and XRP could rally higher in the near term. Currently, the market is inefficient on several timeframes, and this could result in a temporary rally.
XRP recovers as the $1.96 support level holds
The XRP/USD 4-hour chart is bearish and inefficient thanks to XRP’s sudden dump last week. XRP’s price faced rejection from the 50-day EMA at $2.38 on November 13 and lost 19% of its value in the following eight days, hitting a low of $1.82 on Friday.
The cryptocurrency has rebounded slightly after retesting its daily support level above $1.9 over the weekend. At press time, XRP is trading above $2.05 per coin.
The RSI of 47 is close to the neutral 50, suggesting that bearish pressure is easing and supporting a recovery view. The MACD lines are also closing in on the bullish crossover.
If the recovery continues, XRP could rally towards the next major resistance around $2.35 over the next few hours or days. However, if XRP undergoes another correction, it could retest the Friday low of $1.82 in the near term.
Bitwise’s XRP ETF debut adds volatility, not buying momentum.
$1.90 support is crucial for near-term XRP stability.
XRP price has experienced a sharp downturn, slipping below the $2 mark amid a series of whale sell-offs and volatile spot XRP ETF launches.
XRP faces mounting pressure from both institutional flows and broader crypto market turbulence, and the recent activity has raised questions about its ability to hold the critical support at $1.90.
Whales offloading massive amounts of XRP
The XRP market has been heavily influenced by large holders offloading substantial amounts of XRP.
Over the past 48 hours, blockchain data shows whales moving nearly 200 million XRP, generating strong selling pressure that has outweighed buying interest.
Notably, this surge in liquid supply coincided with a broader market-wide flash crash, where Bitcoin fell to a seven-month low of around $82,000, triggering over $1.9 billion in liquidations across crypto markets.
In addition, XRP’s high correlation with Bitcoin has amplified losses, contributing to the token underperforming the broader market.
XRP ETFs bring volatility but fail to spur price momentum
Spot XRP ETFs, intended to boost institutional participation, have produced mixed results so far.
Bitwise’s XRP ETF, which is the latest XRP to go live, debuted with around $25 million in turnover.
While Canary Capital’s XRPC ETF continues to attract attention with $268 million in assets under management, the muted response to Bitwise’s XRP ETF has added short-term volatility rather than market optimism.
The market has most likely interpreted these launches as classic “sell-the-news” events, creating downward pressure on XRP price even as interest in institutional products grows.
XRP price technicals suggest a bearish trend
Technical indicators highlight a challenging environment for XRP.
After breaking below the psychological $2 level, the token is now retesting the critical $1.90 support, which analysts have identified as a major accumulation zone.
$XRP accumulation zones I’m watching like a hawk: $2.21 / $2.06 / $1.90 / $1.56.
When the macro flips risk-on… XRP won’t climb — it’ll teleport. Whales already know.
In addition, the token has broken below a multi-month descending triangle pattern and a death cross where the 50-day EMA sits below the 200-day EMA, signalling ongoing bearish momentum.
The RSI currently sits in oversold territory around 30, reflecting extreme market fear but showing no clear signs of reversal.
If the support at $1.90 fails to hold, XRP could face further downside toward $1.80 or even the $1.55 range, marking a significant drop from recent highs.
Staking and regulatory context remain long-term catalysts
Beyond immediate price movements, Ripple is exploring staking solutions on the XRP Ledger to strengthen its presence in decentralised finance (DeFi) and appeal to institutional participants.
While implementation is still distant due to technical complexity, staking could enhance network security and provide long-term incentives for token holders.
Additionally, ongoing regulatory developments, including potential changes to Basel crypto capital rules, may influence institutional adoption.
Adjustments that reduce excessive capital requirements for banks could make XRP a more attractive option for mainstream financial participation, indirectly supporting price stability.
Tensor (TNSR), the governance token powering the fast-growing Solana NFT marketplace, has stunned traders after soaring more than 152% from $0.1201 to an intraday high of $0.3027.
The rally pushed TNSR to its highest level since mid-September and flipped weeks of bearish sentiment on its head, igniting renewed interest in Solana’s broader NFT ecosystem.
While the price jump has excited traders, the forces behind this surge reveal a story driven as much by speculation and technical momentum as by fundamentals.
Whale moves sparked the sudden surge
The first spark came from clear whale accumulation. A newly created wallet purchased more than $3.7 million worth of Tensor (TNSR) at roughly $0.08 per token, sweeping up over 16.5 million TNSR in a short period.
The aggressive buying triggered immediate attention, especially because the Solana NFT marketplace operates in a relatively low-liquidity environment.
With few large buyers active, a move of this size carried enough weight to tilt market sentiment almost instantly.
The wallet’s rapid accumulation acted like a signal to retail traders, and many interpreted it as a vote of confidence, even though TNSR had no major product releases or partnership updates during the period.
That lack of fundamental catalysts suggests the market was primed for a reaction.
In an ecosystem where daily NFT trading volume sits around $20,000, a concentrated buy of several million dollars can reshape the order books in minutes.
Multi-month descending channel breakout
As the whale activity set the stage, TNSR’s price broke through a multi-month descending channel, a pattern many analysts had been tracking.
The breakout aligned with rising enthusiasm across Solana, adding further fuel to the move.
Momentum indicators lit up quickly. The Relative Strength Index (RSI)shot above 90 before pulling back slightly to 86.94 at press time, showing intense buying pressure that rarely sustains for long without some form of pullback.
Traders were not just buying spot tokens; they were leveraging up and betting on continued upside.
Rising open interest during a price rally often supports the trend, and it did so again here, helping TNSR hold above the key $0.17 threshold after experiencing the sharp pullback after rising above $0.30.
Speculation outruns Solana’s NFT reality
The rally stood in sharp contrast to broader signals from the Solana NFT landscape.
Activity across the Solana NFT ecosystem remains muted, with active addresses near yearly lows and marketplace fees trending downward.
Tensor, despite being a major force in Solana’s NFT sector, has not seen a major surge in platform usage to match the token’s price spike.
This disconnect suggests that Tensor’s price rally was largely speculative rather than reflective of sudden organic growth.
Nevertheless, Tensor’s position in the Solana NFT marketplace cannot be ignored.
Since launching in 2022, the platform has built a reputation as a professional-grade trading hub, offering analytics, bulk trading, AMM pools, creator tools, and even social trading through Vector.fun.
That foundation provides a narrative backdrop that traders often lean on during volatile swings like this one.
Tensor price outlook
In the end, Tensor (TNSR)’s sudden surge reflects a perfect storm of whale accumulation, a timely technical breakout, and heightened trader speculation.
Whether it can sustain this momentum will depend on how long buyers remain confident, and whether the Solana NFT marketplace begins to show signs of genuine revival rather than short-term excitement.
With TNSR now holding above the crucial Fibonacci 0.382 level, the path toward $0.35 could be possible if momentum continues.
Technical indicators such as the DMI, BBP, and ADX show buyers still holding control, though all remain in high-risk territory.
However, if volatility picks up and profit-taking accelerates, TNSR could revisit support near $0.078, a level that previously acted as a springboard for the current rally.
BTC is down 7% in the last 24 hours and is now trading around $81k per coin.
The leading cryptocurrency could drop towards the $80k level if the bearish trend continues.
BTC continues to underperform
The cryptocurrency market has continued its poor performance in November. Bitcoin has lost 9.6% of its value in the last 24 hours and temporarily dropped below the $82k level.
The bearish performance comes amid a massive selloff in the market. JPMorgan analysts led by managing director Nikolaos Panigirtzoglou stated in a report earlier this week that the ongoing selloff is driven mainly by retail selling of spot bitcoin and ether ETFs rather than crypto-native traders. The analysts added that,
“While crypto native investors were responsible for the crypto market correction in October via heavy deleveraging in perpetual futures, this previous deleveraging in perpetual futures appears to have stabilised in November. Instead, it has been non-crypto investors, mostly retail investors who typically use spot bitcoin and Ethereum ETFs to invest in the crypto market, that appear to have been mostly responsible for the continuation of the crypto market correction in November.”
The selloff has also affected altcoins, with Ether, XRP, and other leading cryptocurrencies in the red.
Bitcoin slips below $82,000
The BTC/USD daily chart is bearish and inefficient as Bitcoin has lost 10% of its value in the last 24 hours. BTC began the week bearish, extending its decline by 2% and closing below the 61.8% Fibonacci retracement level at $94,253.
The $90k support level on Wednesday failed to hold, and Bitcoin has now dumped another 10% since then.. At the time of writing on Friday, BTC is trading down around 83,400.
The Relative Strength Index (RSI) on the daily chart stands at 22, indicating strong bearish momentum and oversold conditions for the leading cryptocurrency. The MACD lines are also extremely bearish at the moment.
If the selloff continues and Bitcoin closes the daily candle below the $85k support, it could extend the decline toward the key psychological level at $80,000.
However, if the $85k support level holds in the near term, BTC could rally and hit the next key resistance at $90,000.
DOGE is down by less than 1% and is trading above $0.15.
DOGE’s derivatives market shows signs of recovery as Open Interest rises to $1.66 billion.
Dogecoin’s derivatives data shows signs of recovery
DOGE, the native coin of the Dogecoin ecosystem, continues its poor performance this week after losing less than 1% of its value in the last 24 hours. The leading memecoin is currently trading at $0.157 and could record further losses in the near term.
Since the October 10 flash crash, which liquidated over $19 billion in crypto assets in a single day, Dogecoin has lost 37% of its value.
The selloff reflects the bearish sentiment in the broader crypto market, with uncertainty of another Fed rate cut causing capital flight in the cryptocurrency market. Fed Chair Jerome Powell said during the last FOMC meeting that a December rate cut was not guaranteed, which spooked investors and fueled risk-off sentiment.
Despite DOGE’s poor performance, its derivative market has shown promise in recent days. The Dogecoin futures Open Interest (OI) has stabilized over the past few days. Data obtained from Coinglass shows that traders are slowly regaining confidence in Dogecoin’s ability to sustain short-term recovery.
Coinglass added that Dogecoin OI-Weighted Funding Rate has risen to 0.0076% on Wednesday from Tuesday’s -0.0083%. The surge comes as traders increasingly pile into long positions.
DOGE remains bearish as market volatility continues
The DOGE/USD 4-hour chart is bearish and efficient as Dogecoin has lost 10% of its value in the last 24 hours. The bearish performance comes as the broader crypto market continues to underperform.
The Relative Strength Index (RSI) on the 4-hour chart at 48 risks extending its decline toward oversold territory. If the selloff continues, DOGE could potentially escalate the downtrend below $0.1500.
Dogecoin is currently trading below he 50-day Exponential Moving Average (EMA) at $0.1893, the 100-day EMA at $0.2024, and the 200-day EMA at $0.2090, and they could serve as strong resistance levels in the near term.
If the bearish trend continues, DOGE could drop below the $0.15 level and retest the $0.1424 support last tested in June.
