XRP News Update: XRP ETFs Confront Downtrend While Key Support Levels Face Pressure
- XRP faces downward pressure near $2.27 amid $15.5M institutional outflows and declining futures open interest ($3.61B), signaling waning speculative interest. - Four XRP ETFs launching this week, including Canary Capital's $58M-volume XRPC , could drive $4B-$8B in inflows to counter recent outflows and stabilize pricing. - Technical indicators show XRP trading below key EMAs ($2.49/2.56) with fragile $2.20 support level repeatedly tested, while RSI (43) and bearish MACD confirm short-term selling pressur
Ripple's RLUSD, a stablecoin linked to XRP, is expected by market experts to drive greater use of the
XRP has been under notable selling pressure, as both institutional and retail participants have reduced their exposure.
Despite the negative trend, some XRP supporters remain hopeful, encouraged by the upcoming introduction of several spot ETFs.
The wider market environment adds complexity to XRP’s prospects.
Investor sentiment is currently split.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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