XRP Price Today: XRP Battles the Critical $1.90 Lifeline as ETF Inflows Clash With Deep Sell-Off Pressure

XRP is currently trading around $1.946, having dropped 8.16% in 24 hours, placing it directly on the crucial multi-year support level of $1.90. This level is historically significant, aligning with the 2017 all-time-high candle close and the 2021 swing high, and has consistently seen long-term accumulation.

The price drop of about 9% in 24 hours and 19% over the past month occurs despite positive developments like the launch of the Bitwise XRP ETF on the NYSE, which saw significant first-day volume, and broader ETF inflows totaling $118 million the day prior. Analysts suggest this pullback might be a 'sell-the-news' effect, similar to what Bitcoin experienced after its ETF debut.

Technically, the market is mixed. While some indicators suggest oversold conditions and a potential bullish harmonic pattern, a bearish symmetrical triangle is forming, and a breakdown below $1.90 could expose XRP to deeper support levels at $1.55 and $1.25. A break below $1.80, warned by one analyst, could lead to a drop toward $0.60, making the defense of the $1.90 lifeline pivotal for near-term price action.

(Source：Brave New Coin)