XRP Falls 4.3% Even After XRPC ETF Launch on Bitcoin Weakness

XRP experienced a significant drop of 4.3%, falling 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 volume. The bearish market conditions are attributed to broader pressures, including volatility in the cryptocurrency markets, with the sentiment stuck in the 'fear' zone. The trading session witnessed intense selling, particularly around midnight UTC, leading to a series of lower highs and a confirmed bearish structure. Though institutional interest in XRP is indicated by ETF inflows, the failure to secure support near previous consolidation zones has prolonged the downward trend. Significant selling pressure was noted at key support levels before a V-shaped recovery hinted at exhaustion in the downward momentum, yet the overall market remains under pressure. Traders are cautious as XRP maintains a critical position around $2.22, with potential for a swift drop to $2.16 if the level fails to hold. A reclaim of $2.24 is essential for a bullish outlook.

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