XRP News: Why Is XRP Price Up Today?

XRP gained 10.5% on Nov. 27, buoyed by Ripple's strategic partnerships, rising open interest, and technical indicators pointing toward a potential $4.28 rally.XRP Leads Crypto Recovery, Targets $4.28XRP (Ripple) is spearheading a market-wide recovery, posting a 10.5% gain in the past 24 hours to trade at $1.43 as of Nov. 27. The cryptocurrency boasts 30% weekly gains and an impressive 179% monthly surge, outperforming Bitcoin (up 2%) and Ether (up 5%) during the same period.Key Factors Driving XRP’s Price Rally1. Ripple’s Tokenized Finance PushXRP’s price gains are tied to Ripple's strategic collaboration with Archax, a UK-based FCA-regulated digital asset exchange.Ripple and Archax launched a tokenized money market fund managed by UK asset manager abrdn, tapping into the $16 trillion tokenized assets market projected by 2030.Ripple’s partnerships, including recent efforts with Mercy Corps Ventures, aim to boost adoption of the XRP Ledger (XRPL), potentially driving token demand.2. Record-High Open InterestXRP-tracked futures open interest reached an all-time high of $2.06 billion on Nov. 22, reflecting heightened investor confidence.Open interest has risen 5% in the past 24 hours, supporting XRP’s price momentum and increasing the likelihood of sustained gains.3. Bull Flag Formation Points to $4.28Technical charts indicate a bull flag pattern, a bullish continuation setup that predicts a potential breakout.If XRP breaks above the flag’s upper trendline at $1.46, it could rally to $4.28, marking a new all-time high.However, XRP’s RSI of 82 suggests overbought conditions, increasing the likelihood of a short-term pullback to $1.28 or lower.XRP Price Outlook: Key Levels to WatchSupport Levels:$1.28 (lower trendline of the bull flag).$1.00–$1.05 (psychological level).Resistance Levels:$1.46 (upper trendline of the bull flag).$4.28 (bull flag target).XRP’s Uptrend Poised for ContinuationXRP’s rally is underpinned by Ripple’s growing ecosystem, elevated futures activity, and bullish chart patterns. While a short-term pullback remains possible, the cryptocurrency’s fundamentals and technicals point toward continued gains, with a $4.28 target achievable in the coming months, according to Cointelegraph.