XRP Faces Continued Price Decline Despite Positive Supply Signals
- Over 25 million XRP have exited exchanges recently, reducing available supply for sale.
- Inflows to Binance hit their lowest levels of the year, which typically supports price stability.
- Approximately $1.42 billion flowed into crypto investment products, particularly spot ETFs.
- XRP’s price fell from $1.2712 to $1.2026 in a single day, marking a loss of over 5%.
- The critical support level at $1.25 has now turned into resistance after the recent breakdown.
Despite bullish signals such as decreased exchange balances and substantial ETF inflows, XRP’s price continues to decline due to overwhelming technical selling pressure. The market remains cautious as it navigates between weakening supply and deteriorating price action.
Currently, maintaining support around $1.20-$1.21 is crucial for XRP, as losing this level could expose lower targets around $1.13-$1.15.
