XRP Below $2: Strong ETF Demand, High Transactions Fail to Lift Price
Despite strong ETF inflows and six-month high transaction volumes, XRP price fell below $2 due to broader market sell-offs triggered by trade war fears.Summary
The spot XRP price has slipped below the psychological $2 level, marking six consecutive days of decline, primarily driven by market-wide sell-offs stemming from fears of renewed trade wars after US President Trump threatened new tariffs.
This price drop occurred despite strong positive fundamentals, including cumulative inflows of $1.28 billion into US-based XRP spot ETFs and a surge in XRP Ledger transactions to a six-month high. These positive indicators of institutional and on-chain demand failed to lift investor sentiment, as XRP underperformed, dropping 18.5% from its recent high.
Technically, XRP is testing support around $1.96, with the next significant defense lines at $1.80 and $1.78, where substantial amounts of XRP were previously acquired. A break below this level could lead to a deeper correction toward $1.61 or the 200-week EMA around $1.41.
(Source：Cointelegraph)