XRP Slides to $2.08 as Grayscale’s GXRP ETF Debut Fails to Ignite Market
CoinDesk
XRP fell to $2.08 despite Grayscale's GXRP ETF launch, as technical selling overshadowed the institutional news.Summary
Grayscale launched its spot XRP Trust ETF (GXRP) on NYSE Arca, aiming to provide straightforward exposure to XRP for institutional and retail investors, joining other emerging XRP ETFs. However, the launch failed to ignite positive price action, as XRP declined steadily to $2.08 due to profit-taking and weak spot flows, ignoring the bullish ETF news cycle. Technically, the breakdown below $2.10 confirmed a short-term downtrend, with the critical support level now sitting at $2.03–$2.05; a failure here could send prices toward $1.91. The market's immediate focus remains on technical factors, and sustained inflows into the new ETFs, alongside Bitcoin's stability, will be necessary for spot bids to support XRP.
(Source：CoinDesk)