The XRP ETF has been approved, but the price has barely moved. It has only increased by about 2%. Many people are asking why. Let me explain.
$XRP has been trading around $2 for a long time. During the recent market downturn, XRP did not drop much. Many buyers are already holding XRP in this range and are not willing to chase it further.
For the price to move up, the market needs new money and more liquidity. Currently, there is not enough new money entering the market. The approval of the ETF is good news, but alone it cannot pump the price without new buyers.
The XRP chart still looks good as it maintains its support area well.
Perhaps we will see it do something when the new week starts or when the ETF begins. But for now, XRP has been lacking volume over the past few days.$XRP
