XRP Slides Toward $2.15 as Technical Pressure Mounts Despite ETF Launches
XRP fell from a $2.27 intraday high to trade near $2.15–$2.17, confirming a short-term breakdown. Traders are watching the $2.15 pivot closely: holding it could spark a bounce, while a break may open the door to further losses toward $1.98.
ETF Activity and Market Context
November saw several XRP ETFs launch, including Franklin Templeton’s EZRP, Canary Capital’s XRPC, and Bitwise products. Combined first-week flows topped $245 million, reflecting strong institutional interest, though trading volumes have dropped 55% from peak levels, indicating weakening retail participation.
Broader crypto markets softened as Bitcoin volatility rose ahead of its Death Cross, weighing on altcoins. ETF optimism offered limited support amid fragmented liquidity.
Price Action & Technical Signals
- XRP fell 4.96% to $2.16, dipping below $2.20 support.
- Session volume jumped 54.5% above monthly averages, with 236.6M XRP traded.
- Resistance remains at $2.28, while a bearish pennant between $2.155 and $2.18 signals potential for further downward moves.
Momentum remains bearish, with price below key EMAs. A clear breakout above $2.18–$2.20 and reclaiming $2.28 is needed to restore bullish control. XRP’s trajectory remains sensitive to Bitcoin’s volatility post-Death Cross.
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