XRP ETF was approved, but the price barely moved. It only went up about 2%. Many people are wondering why. Let me explain.
$XRP has been trading around $2 for a long time. During the recent market downturn, XRP didn't drop much. Many buyers are already holding XRP in this range and are not willing to chase it further.
For the price to rise, the market needs new money and more liquidity. Right now, there isn't enough fresh money coming in. The approval of an ETF is good news, but by itself, it can't drive the price up without new buyers.
The XRP chart still looks good, as it maintains its support zone well.
Perhaps we will see it do something when the new week starts or when the ETF launches. But so far, XRP has been lacking volume in recent days.
