XRP News Today: Launch of XRP ETF Unable to Halt Price Drop Amid Strong Selling Pressure

On Tuesday, Bitcoin dropped beneath $93,000, wiping out its gains for 2025 and intensifying a late-year downturn that has unsettled both institutional investors and traders

. The wider cryptocurrency sector followed suit, with XRP—a major alternative coin—tumbling 7% as . Canary Capital’s XRPC ETF saw $58.6 million in trading volume on its first day, but failed to maintain upward , .

The

price plunge followed an unsuccessful attempt to break past the $2.30 psychological barrier, sparking significant institutional sell-offs and . Blockchain data indicated that 110.5 million XRP tokens were transferred between unidentified wallets during the selloff, increasing volatility as derivatives platforms reported $28 million in XRP liquidations over the past day, with nearly 93% of those losses coming from long positions .

Technical signals for Bitcoin also suggested continued weakness. Although the Relative Strength Index (RSI) briefly rebounded to 34 on the daily chart, the Moving Average Convergence Divergence (MACD) indicator remained bearish, with its blue line staying below the red signal line

. , currently trading near $3,200, is also under pressure as its 50-day EMA recently dipped below the 100-day EMA—a “Death Cross” pattern that has historically signaled extended downturns .

The debut of the XRP ETF underscored a contradiction in the crypto space: institutional demand for regulated investment vehicles exists alongside speculative selling. Despite XRPC’s strong opening, XRP’s price movement confirmed a structural breakdown, with sellers defending the $2.29–$2.30 support area and previous resistance at $2.36, $2.40, and $2.47 now serving as overhead resistance

.

Opinions remain split regarding the long-term prospects. While

and potentially reach $5 by 2026 if institutional investments continue, short-term sentiment remains bearish. Data from Coinglass revealed $9.4 million in XRP spot outflows, extending a multi-week trend of distribution as traders reduce their positions . Open interest in XRP derivatives increased by 1% to $3.68 billion, but a long-short ratio of 0.96 indicated a balanced market, with no clear directional bias .

As

approaches its lowest point of 2025, the crypto market’s attention is turning toward macroeconomic developments and the sustainability of ETF inflows. Investors are keeping a close eye on the Federal Reserve’s policy direction and institutional investment trends, .