In this video: XRP is reacting to support and has broken out of its channel. Here is why it is still too early to call the low, and what XRP needs to show next.
We analyse XRP on 4 November 2026 using Elliott Wave. After five waves up from the August low into the August highs, the pullback into the October swing lows is clearly a 3-wave ABC decline, and the first evidence of a low was the break above the upper boundary of the channel. Next could be a C wave or third wave advance, which should again be five waves. Video by More Crypto Online.
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A larger 5-wave move could even become wave 1 of an even larger structure and eventually lead toward the $11 plus region, or it could only turn into a larger bounce. On the smaller timeframe, XRP reacted to the $1.21 level after a complete ABC decline, but the move up is so far only three waves, and those often fail. If we get another low, $1.10 is the next support. To confirm a low, XRP needs a 5-wave move up above the first resistance at the green line around $1.34, followed by a 3-wave decline. First support lies at the white trend line and the last swing low around $1.24.
XRP Insights Today
1. David Schwartz Steps Down as Ripple CTO
In a notable governance update, Ripple's long-standing Chief Technology Officer, David Schwartz, announced his retirement from his operational role. However, he will maintain his seat on Ripple’s board of directors and continue operating his independent validation node on the network, minimizing immediate fears of an executive vacuum.
2. Standard Chartered Launches RLUSD Custody
Standard Chartered's Dubai branch (regulated by the DFSA) has officially expanded its institutional services to offer digital asset custody for RLUSD, Ripple's upcoming U.S. dollar-backed stablecoin. This provides a massive structural tailwind for the Ripple ecosystem by bringing tier-one traditional banking infrastructure directly into the fold.
3. Clarifying the XRP vs. RLUSD Dynamic
With the impending rollout of RLUSD, network validators and Ripple CEO Brad Garlinghouse issued clear statements reminding investors that RLUSD is designed to compete with stablecoins, not XRP. While RLUSD acts as a regulated, stable medium of exchange, XRP remains the decentralized, native utility commodity asset required to power every single transaction and reserve fee on the XRP Ledger (XRPL).
4. XRPL Core Upgrades Move Forward
The XRP Ledger has successfully activated a major foundational security amendment after receiving overwhelming consensus from network validators. Concurrently, programmatic proposals to embed native lending protocols into the ledger continue to aggregate a vast majority of "Yes" votes, which will significantly amplify XRPL's native decentralized finance (DeFi) capabilities.
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