XRP Falls 4.3% Even After XRPC ETF Launch on Bitcoin Weakness, Finds Buyers Near $2.22
XRP dropped 4.3% to $2.22 despite a strong debut for the new XRPC ETF, as broader market weakness suppressed momentum.Summary
XRP experienced a significant 4.3% selloff, falling from $2.31 to $2.22, even as the newly launched U.S. spot XRP ETF (XRPC) by Canary Capital saw strong first-day volume of $58.6 million, far exceeding expectations. This decline occurred against a backdrop of bearish crypto sentiment and heightened macro uncertainty, with derivatives markets showing stress, evidenced by nearly $25 million in long position liquidations within 24 hours. Technically, XRP broke the $2.24 support level during aggressive selling, but a high-volume, V-shaped reversal near $2.22 signaled potential exhaustion of downward momentum, forming higher lows. Traders are watching the critical $2.22 support level; failure to hold it risks a drop toward $2.16, while reclaiming the $2.23–$2.24 resistance zone is necessary to rebuild bullish structure, though a sustained break above $2.48 is needed to shift the overall trend bias.
(Source：CoinDesk)