Despite recent inflows into ETFs linked to XRP, the cryptocurrency experienced a downturn, slipping back towards $1.33 as selling pressure continued to dominate buying interest. This indicates that rallies are being used for exiting positions rather than establishing new ones, maintaining overall market fragility.
Inflows of $3.32M were recorded in Ripple-related ETFs, marking a reversal from the outflows observed earlier this month. However, these inflows have not been sufficient to stabilize XRP’s price. Additionally, exchange liquidity has significantly decreased, raising concerns about potential sharp price movements if critical levels are breached.
The decline of XRP was noted from $1.37 down to $1.33, with the downward trend accelerating after a rejection near $1.38. High-volume selling confirmed this shift, as prices could not sustain themselves above $1.35, resulting in lower highs by the end of trading. Late-session volatility brought XRP down to $1.31 before minor stabilization occurred, though attempts to recover remained feeble.
The key indicator is rising volume alongside falling prices, suggesting distribution rather than accumulation. The repeated rejections near the $1.37-$1.38 range emphasize a persistent supply surplus at these levels. XRP also lagged behind the broader market, indicating that capital is being redirected away from the token. With its price still beneath major moving averages and within a descending structure, the overarching downtrend persists.
Immediate support for XRP stands at $1.33, but a critical level lies at $1.28. A break below this point could intensify downward momentum. On the other hand, to alter short-term trends positively, XRP must reclaim levels of $1.35 and then $1.38. Until such movements occur, the market scenario remains one characterized by weak rebounds within an overarching downtrend.