XRP News Today: Institutional Trust in XRP ETFs Fuels Hope Despite Widespread Crypto Slump

XRP,

, and are facing a volatile period as the cryptocurrency market undergoes a significant downturn. has seen a 15% decrease in value over the last seven days, currently priced at $2.17 as of November 14. Meanwhile, Bitcoin and Ethereum have dropped by 12% and 13.4%, respectively, . Despite these declines, some experts and industry insiders remain cautiously hopeful for a recovery, especially for XRP, which is attracting renewed institutional attention ahead of the anticipated launch of spot XRP exchange-traded funds (ETFs).

The latest price swings have ignited discussions among market participants. Crypto technical analyst Ali Martinez emphasized that XRP maintaining a price above $2.15 is crucial for sustaining bullish momentum. "

, it may pave the way for a move toward the $2.40–$2.70 range," Martinez commented. This positive outlook is partly attributed to the introduction of spot XRP ETFs, which are anticipated to bring in new investments. Even with a 14% drop over the week, XRP’s new ETF has attracted as of November 14, according to SoSoSo data.

Recent whale activity highlights the market’s mixed signals. that large XRP holders sold 200 million tokens within the first two days after the ETF launch, adding to the downward price pressure. Nevertheless, this selling hasn’t diminished the enthusiasm for these ETFs. Major financial institutions such as Franklin Templeton, Grayscale, and 21Shares are now in the Depository Trust and Clearing Company’s pipeline. Although these ETFs are currently marked as "pre-launch" and not yet available, their presence in the pipeline reflects increasing institutional interest in XRP.

Ryan Lee, chief analyst at Bitget, also expressed a positive outlook.

, fueled by growing demand for cross-border liquidity and the momentum from ETF investments. Lee also pointed out the expanding influence of stablecoins within the XRP ecosystem, suggesting that stablecoin applications could further drive demand.

The wider cryptocurrency market is also under close observation. Bitcoin and Ethereum have experienced notable losses since Bitcoin’s high of $126,000 in October, with

. However, the progress of XRP ETFs has led to a shift in sentiment. While Bitcoin and Ethereum are under bearish pressure, XRP’s story of institutional adoption is gaining momentum.

Investors are now monitoring critical price points and ETF developments to gauge the next direction for the crypto market.

their offerings and analysts predict XRP could reach $2.70, the upcoming weeks may be crucial for the industry.