The Ni<inf>53</inf>Mn<inf>23.5</inf>Ga<inf>23.5</inf> ribbon was fabricated by a process of melt-spinning. The structure and magnetic properties of the as-spun and annealed ribbons were investigated. The magnetoresistance (MR) was evaluated at the magnetic field up to 30 kOe. A switch-like (negative and positive) MR (about 2%) obtained at a martensitic transformation (MT). Due to the lattice instability and magnetocrystalline anisotropy, the highly textured Ni<inf>53</inf>Mn<inf>23.5</inf>Ga<inf>23.5</inf> melt spun ribbons may be broadly applied in magnetic memory applications, also as a temperature and the magnetic sensor.