XRP ETFs Post Inflows For 7 Consecutive Weeks – Why Price Still Struggles
Despite seven weeks of consistent inflows into XRP ETFs, the token's price remains constrained by a persistent downtrend.Summary
XRP price action is currently struggling, remaining locked in a downtrend despite strong institutional support demonstrated by XRP ETFs, which have seen inflows for seven consecutive weeks, including $11.93 million just before Christmas.
Bearish pressure is evident as unrealized profits for XRP holders have dropped to a yearly low, with investors who bought above $1.86 now holding losses, raising concerns about potential profit-taking from long-term holders.
At the time of writing, XRP traded near $1.86, struggling below a six-week downtrend line. While ETF inflows may stabilize the price above the $1.79 support, a sustained breakout above the downtrend line is needed to target $1.94 and potentially $2.00, invalidating the current bearish outlook.
(Source：BeInCrypto)