Ripple (XRP) Price Forecast: Investors move $142M as Brad Garlinghouse donates to Trump Lobby

XRP Price Analysis: 

Ripple (XRP) price opened trading at $1.54 on Friday, November 28, up 22% in the last 3-days propelled by recent comments from the Ripple Labs founder Brad Garlinghouse.

On-chain data shows majority of traders still holding out for larger gains as XRP advances towards $2.

Why is XRP Price Going Up today?

XRP price gains 22% as Ripple Lab donates to $25M to Trump Lobby

On November 27, Ripple Labs, co-founder Brad Garlinghouse, announced a $25 million donation to Fairshake PAC, a non-profit organization geared towards supporting  crypto-friendly political candidates across the US.

Notably, over the last 4-years, Ripple faced intense regulatory under the  outgoing US SEC regime led by Gary Gensler.

After having donated $11 million to Kamala Harris campaign, Ripple Lab’s $25 million contribution Fairshake on Wednesday, hints that the firm now seeks to align with Trump’s incoming administration.

With Fairshake set to promote candidates likely to drive positive crypto legislations under Donald Trump’s incoming administration, crypto assets like XRP, Cardano and Binance coin (BNB) that have come under litigation from the SEC all receieved a significant sentiment boost, driving up prices.

 

After starting the week with a 4-day losing streak, XRP traded as low as $1.28 on Tuesday November 26. But after Brad Garlinghouse announced the Fairshake donation, prices entered an instant  bullish reversal.

At press time on November 29, XRP price climbed to a daily timeframe peak of $1.58 reflecting 22% gains in the last 3-days.

Investors move $142M XRP into long-term savings after Gensler’s exit

Gary Gensler’s recent exit and Ripple’s donation to Fairshake’s Trump lobby are two catalyst that have propelled XRP prices in the past week. However, looking beyond the recent price action, these events appear to have also impacted investors’ long-term sentiment.

Validating this stance, CryptoQuant’s exchange reserve metric below tracks the short-term supply of XRP deposits on Binance. This serves as proxy for tracking investors sentiment around key support levels.

The chart above shows that investors held 3.27 bilion XRP on exchanges as on November 16. But, that figure has now dropped to 3.12 millon at the time of publication on November 28.

This shows that investors have shifted 150 million XRP coins from exchanges into long-term cold storage option over the last two weeks. Valued at the current prices of $1.58 per coin, investors have effectively pulls $232 million from the XRP short-term market supply.

The tightening market supply has contribute to XRP accelerate price upswings, as Gensler’s exit and Ripple labs donation to Trump lobby sparked increased demand this week.

If the is downtrend in exchange reserves persists, XRP price could potentially advance towards the $2 mark in the days ahead.

XRP Price Forecast: Close above $1.55 could spark $2 breakout

XRP’s recent price action suggests a bullish continuation as it hovers around the $1.55 level, supported by the Donchian Channels indicator. The upper channel boundary near $1.63 marks a critical resistance, and a sustained close above this level could confirm a breakout toward $2.

The midline of the Donchian Channel, positioned around $1.09, serves as a solid support level, underpinning the ongoing bullish momentum.

More so, the Volume Delta analysis highlights a net positive flow, with 19.45 million in green, signaling growing buying interest. This increase in volume aligns with XRP’s recent consolidation, forming a potential base for the next leg up.

If bulls overcome resistance at $1.63, the psychological $2 mark becomes the next target.

Conversely, a failure to hold $1.55 could see the price retrace toward $1.09. XRP remains poised for upward movement, provided volume sustains and breaks key resistance levels.