XRP Price Falls Amid Strong ETF Inflows and Institutional Selling
XRP's price declined from $2.09 to $2.00, marking a 4.3% drop and underperforming the broader cryptocurrency market by approximately 1%. This movement was accompanied by a significant volume spike of 172.8 million at around $2.08, which is 205% above the daily average, indicating a failed breakout attempt.
Institutional flows surged 54% above the weekly average, pointing to strategic selling rather than retail panic. Meanwhile, exchange balances of XRP have decreased from 3.95 billion to 2.6 billion tokens over the past 60 days, tightening supply and contributing to a multi-month triangular compression pattern.
Currently, exchange supply stands near 2.6 billion tokens. XRP remains in a tight trading range with resistance between $2.09 and $2.10 and support near $2.00. The price has not successfully broken above resistance, with chart patterns showing a multi-month triangle formation. A confirmed breakout would require multiple hourly closes above $2.10 accompanied by volumes exceeding 100 million.
Market makers have reported increasing distribution pressure characterized by heavy offers above the $2.10 level. U.S. spot XRP ETFs have been a notable positive factor, pulling in over $170 million in weekly inflows with no outflows. These ETF inflows currently act as the largest counterbalance to spot market weakness, and any slowdown in ETF inflows could remove this price floor.
