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

XRP saw a substantial decline of 7.3%, dropping below key support levels to settle around $2.30 amidst a broader downturn in the cryptocurrency market. This plunge coincided with the launch of the first U.S. spot XRP ETF, Canary Capital's XRPC, indicating institutional interest but reflecting market volatility. Analysts express concern about the potential for further declines due to large token movements and macroeconomic uncertainty. XRP's decrease surpassed essential support levels, breaking through the psychological floor of $2.30. The trading session was marked by increased volume and a sharp liquidation period. Market sentiment remains fragile, with predictions that failure to hold the $2.29 support could lead to moves towards the $2.00 to $2.20 range. The next critical factor will be ETF inflows, which could signal whether the institutional interest from the XRPC listing is an accumulation opportunity or merely a momentary volatility spike.

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