XRP ETF Fails to Bump Bulls as Ripple-Linked Token Plunges 7.3% Amid BTC Selloff
XRP dropped 7.3% below the $2.30 support level during a broad crypto selloff, coinciding with the debut of the first U.S. spot XRP ETF.Summary
XRP experienced a sharp 7.3% intraday decline, falling from $2.48 to $2.30 and breaking key support levels, despite the launch of the first U.S. spot XRP ETF, Canary Capital’s XRPC, on Nasdaq. This selloff occurred amid a broader cryptocurrency market downtrend driven by macro risk-off flows, leading analysts to suggest the current market structure is vulnerable to deeper retracements. The price action included a violent liquidation cascade, confirmed by 46% above-average trading volume, indicating significant institutional-grade distribution overwhelmed any positive impact from the ETF debut. Technically, XRP confirmed a structural breakdown, failing to reclaim resistance at $2.36, and now hinges on holding the $2.29–$2.30 support zone; failure there could lead to a fast move toward the $2.00–$2.20 demand zone. Future volatility will be influenced by ETF inflows and ongoing whale transfers.
(Source：CoinDesk)