XRP Falls 4.3% Even After XRPC ETF Launch

XRP experienced a 4.3% decline, dropping from $2.31 to $2.22, despite the launch of the U.S. spot XRP ETF (XRPC) which recorded $58.6 million in first-day trading volume. The overall market remains bearish, struggling against key resistance levels between $2.23 and $2.24. This sell-off occurred amidst increasing institutional interest and inflows into the ETF, but broader market pressures continued to suppress liquidity and momentum, leading to significant XRP liquidations. The decline was marked by a high volume of trades, with a notable spike occurring at midnight UTC when 74 million XRP were traded. Analysts suggest that a crucial support level exists at $2.22, and a failure to hold this could lead to further declines. Conversely, reclaiming resistance at $2.24 is necessary for a potential bullish shift. Despite the sudden recovery following the drop, the bearish trend prevails unless key resistance levels are overcome.

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