XRP Token Faces 2% Drop Despite Canada’s First Spot ETF Approval and $5.12B Trading Surge

XRPUSDT is trading at 1.9934 on Binance, down 2.09% over the past 24 hours from an open of 2.0360. The recent price decline is attributed to ongoing market consolidation, persistent resistance near the $2.08–$2.22 range, and significant net outflows of approximately $24.44 million from exchanges, which often indicate redistribution or position changes. While the announcement of Canada’s approval of the first spot XRP ETF provided some positive sentiment, it was not enough to offset broader market caution, technical resistance, and the impact of options expiry positioning. XRP’s 24-hour trading volume remains robust at around $5.12 billion, but the asset continues to face short-term volatility and directionless price action as traders await clearer regulatory outcomes and further institutional adoption signals.