XRP Faces Support Test Amid Institutional ETF Rollouts
- XRP fell by 4.96%, from $2.27 to $2.16, breaking below the $2.20 support level.
- Total trading volume surged by 54.56% above monthly averages, reaching approximately 236.6 million XRP traded.
- Multiple XRP ETFs launched in November, with first-week flows exceeding $245 million, indicating strong institutional interest.
- ETF trading volumes decreased by 55% from peak levels, signaling reduced retail enthusiasm.
- Resistance is noted at $2.28, while stabilization attempts are around the $2.155–$2.166 range.
Despite strong institutional inflows into ETFs, broader crypto market weakness persists as Bitcoin’s volatility increases ahead of its Death Cross event, impacting altcoins like XRP.
The critical support level for XRP is now at $2.15, where holding could lead to a bounce towards the $2.28–$2.30 range, while a break below may trigger a rapid decline towards $1.98.
