What to Know:
- The first US-based spot XRP ETF launched, breaking SOL’s trading volume record on its debut day.
- Despite initial bullish sentiment, XRP experienced a 9% price drop, potentially due to whale sell-offs and a broader market correction.
- A key support level for XRP has been identified around $2.20, which may prevent further decline.
XRP’s recent price action is under scrutiny following the launch of the first US-based spot XRP ETF. Despite the ETF’s record-breaking debut, XRP experienced a notable price decline, prompting investors to evaluate market dynamics. This analysis delves into potential factors influencing XRP’s performance and future outlook.
On-chain data revealed a concerning trend prior to the ETF launch: a positive 7-day moving average of XRP’s Exchange Network into Binance. This suggests that large holders were moving substantial amounts of XRP onto exchanges, possibly signaling an intent to sell. Such behavior from whales can create immediate selling pressure and influence retail investors.
The broader cryptocurrency market experienced a significant correction, contributing to XRP’s price drop. A $200 billion decrease in total market capitalization within 24 hours put downward pressure on numerous cryptocurrencies, including XRP. This market-wide trend should be considered when assessing XRP’s individual performance.
Despite the recent downturn, technical analysis indicates a potential support level for XRP around $2.20. This level previously acted as a point of resistance during corrections and may now serve as a buy wall, preventing further price declines. Monitoring this level will be crucial for assessing XRP’s short-term trajectory.
$XRP has reach a buy all again. pic.twitter.com/KT54RT8BgE
— CW (@CW8900) November 14, 2025
In conclusion, the launch of the first XRP ETF represents a significant milestone, yet immediate price action reflects broader market trends and strategic movements by large holders. Investors should closely monitor key support levels and overall market sentiment to make informed decisions regarding XRP.
Source: Original article
