Key TakeawaysXRP price slips 3.44% in 24 hours despite an 8% weekly gainETF approval triggered short-term profit-taking and selling pressureTechnical breakdown below $2.41 Fibonacci support signals fragile sentimentXRP price fell over 3% today, reversing part of its recent rally as profit-taking followed the launch of the first XRP ETF. The move reflects technical weakness and growing risk-off sentiment across the broader crypto market. ETF Profit-Taking and Market ReactionThe debut of the Canary XRP ETF on Nasdaq initially boosted market enthusiasm.Despite an impressive $138 million ETF inflow, spot market outflows reached $68 million (Santiment), creating short-term selling pressure. Analysts noted this mirrors post-ETF volatility patterns seen in Bitcoin and Ethereum launches earlier in the decade.While the ETF expands institutional access to XRP, traders appear to be locking in gains after a 320% annual rally — a signal of cooling bullish momentum in the near term. Technical Breakdown and Market IndicatorsXRP’s breakdown below the $2.41 Fibonacci level (38.2% retracement of the July–October rally) invalidated a prior ascending triangle pattern and led to stop-loss triggers among leveraged traders.From a technical indicator standpoint:10-day EMA: $2.399420-day EMA: $2.430430-day EMA: $2.476150-day EMA: $2.5607200-day SMA: $2.6309Source: TradingViewShorter-term averages remain close to current price levels, indicating tight consolidation. The Relative Strength Index (RSI) at 49.98 suggests neutral momentum, while MACD at −0.0546 and Momentum (10) at −0.0426 point to waning upward strength.Market participants are now watching whether $2.30 (50-day EMA) will act as the next support zone, where whale bids historically reappeared. Wider Crypto Market ContextAcross the crypto market, risk sentiment remains weak. The Crypto Fear & Greed Index sits at 31 (Fear), while Bitcoin dominance is hovering around 59%, drawing liquidity away from altcoins.XRP’s 24-hour trading volume rose 32% to $6.13 billion, with roughly 72% attributed to sell-side pressure (CryptoQuant).This combination of ETF-driven volatility, technical breakdowns, and macro caution suggests the market remains in a low-confidence phase despite XRP’s strong fundamentals. XRP Outlook: Which Key Levels to Watch?Despite today’s correction, several catalysts could reignite bullish sentiment. The 30-day SMA ($2.44) remains a critical pivot point for recovery, and if XRP can reclaim $2.50, it may re-establish uptrend momentum and invalidate the current bearish structure. Traders will be closely monitoring ETF flow data and Bitcoin’s stability around $105K, both of which could shape the next price forecast cycle.
Kikyo
Brian
Alex