🚨 XRP is declining despite the launch of the first ETF… Is it approaching a strong reversal?
The XRP token has declined by 4.3% from $2.31 to $2.22 over the past hours, despite the strong launch of the XRPC ETF in the US market, which recorded a massive trading volume of $58.6 million on its first day — much higher than analysts' expectations.
Despite institutional momentum, the market remains under downward pressure due to weak liquidity and XRP's correlation with Bitcoin's volatility, leading to a break below the resistance area of $2.23 – $2.24 and a return to test support at $2.22.
🔍 Key highlights happening now:
The general market is still in a state of extreme fear with a clear weakness in demand.
Breaking below $2.22 could open the way to $2.16 then $2.02 – $1.88.
Recovering the level of $2.24 then $2.31 is essential to change the short-term trend.
Optimism continues thanks to institutional entry via the new ETF, but the overall trend remains bearish for now.
🎯 Summary
XRP is at a crossroads:
🔸 Either maintain support at $2.22 and start a gradual recovery…
🔸 Or slip into a deeper downward wave if support fails.
