XRP Price News: Plunges 7%, but Will XRPC ETF Rise on Second Day?

XRP experienced a notable 7.3% drop, falling to around $2.30 against a backdrop of a broader downturn in the cryptocurrency market. This decline coincided with the launch of the first U.S. spot XRP ETF, Canary Capital's XRPC, which underscores increasing institutional interest yet highlights market volatility. Analysts remain cautious, indicating the market is susceptible to more declines due to large token movements and macroeconomic uncertainties. Price action showed a violent selloff, breaking through key support levels at $2.36 and erasing recent gains. Notably, XRP trading volume surged, emphasizing significant market distribution amid the crash. The surge from large whale transfers further amplified market apprehensions, complicating the overall sentiment. As XRP trades near crucial support at $2.29, the need to reclaim prior resistance levels to regain confidence is paramount, especially considering early ETF inflows could determine XRP's future volatility and recovery chances amidst a fragile market landscape.

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