XRP Price Today: XRP Defends $2 as Vanguard’s Spot ETF Listing Could Influence Liquidity
XRP is holding the critical $2 support level amid a Wyckoff re-accumulation pattern, while institutional interest grows due to Vanguard listing a Spot XRP ETF.Summary
XRP is currently trading around $2.02, successfully defending the significant psychological support level of $2. Technical analysis suggests the asset is in Phase C of a multi-month Wyckoff re-accumulation pattern, where dips below support might be final shakeouts before a recovery.
Longer-term, XRP remains above its 20-month EMA near $1.94, maintaining a constructive monthly structure despite daily and weekly EMA resistance. A major factor influencing the market is the increased institutional accessibility, highlighted by Vanguard listing the Bitwise Spot XRP ETF, which could significantly influence liquidity flows.
However, short-term technicals show selling pressure, with XRP facing resistance near a descending trendline and Fibonacci retracement zones. Key downside targets are cited around $1.8476; conversely, holding the $2 support zone, coupled with continued ETF inflows, could favor price stability and potential recovery.
(Source：Brave New Coin)