XRP trades around the support of $2.20 following $164M ETF launch as whale offloads lead to colossal liquidations. Are institutional flows the salvation of the critical floor?
XRP faces a critical test at $2.20. The token fell even though it registered one of the highest ETF launches in crypto. The XRPZ offered by Franklin Templeton, and the GXRP offered by Grayscale drew in $164 million on the opening day, an indication of aggressive institutional buying.
The price dropped 2.2% from $2.26 to $2.21. This was in a trading range that was limited. Derivatives markets recorded a negative decline in Binance Open Interest by 1.7 billion to 504 million, the lowest in 12 months.
ETF Inflows Crush Bitcoin and Ethereum
The ETF performance of XRP shocked markets. Coin Bureau on X says that the token trumped big rivals. Bitcoin experienced outflows of $151 million, and Ethereum experienced outflows of 97 million.
Source – Coin Bureau X
Solana registered inflows of 58 million dollars. XRP’s $164 million topped them all. GRXP by Grayscale and XRPZ by Franklin Templeton were the top earners of the day with 67.36 and 62.59 million, respectively.
Price action is the opposite of the strong institutional appetite. The momentum in the ETF was likely to raise prices. Rather, whale activity overturned profits.
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Whale Selling Triggers Market Chaos
Massive distributors disseminated about 180 million XRP tokens. This selling was consistent with a larger risk-off. The distribution was done against positive ETF flows.
The breakdown occurred at the token volume spike of 124.4M and was preceded by a violent volume spike of $2.20. This was 78% above the average daily. The spike was an indicator of institutional sellers.
Crypton3wslive on X states that XRP fights to maintain the floor at 2.20. Whales sold into strength when derivatives leverage failed. This was at the time when Times Square became Ripple Square.
Times Square Billboard Fuels Speculation
During the price fall, marketing increased. Amon Buy tweeted on X, Times Square became Ripple Square. The iconic location was dominated by blue billboards.
Source- Amon Buy X,
The move was meant to herald the entry of XRP into the mainstream. Advocates considered it to be a bullish positioning. The timing was questioned by critics during price weakness.
The social media buzz was created through the visual spectacle. Whether technical damage would be countered by marketing was debated by retail traders. The most important variable was institutional flows.
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Technical Picture Shows Mixed Signals
The larger technical formation is still present with a right-angled broadening wedge. The trend on the basis of the 2.00. It projects down to $4.50 -7.00 in case of resistance break.
Flash neutral values of the indicators are short-term values. RSI shows no movement and MACD moves laterally. This implies reaccumulation and not complete collapse.
There were stabilization attempts of overnight trading. XRP bounced 0.6% from $2.198 to $2.211. There were numerous volume spurts during low-liquidity hours.
Critical Support Defines Next Move
The immediate direction depends on the level of 2.20. It is still necessary that bulls hold onto this floor. Any break below reveals $1.88-1.91 demand zones.
Recovery of $2.24 would be an indication of bullish continuity. The near-term resistance ceiling is that level. Whale distribution this week has to be counterbalanced by ETF inflows.
The open Interest stabilization will point to recovery potential. Traders monitor returns of derivatives leverage. The derivatives washout relieved overheated positions.
ETF inflows show actual institutional interest but derivatives leverage breakdown and whale distribution composed a top at 2.24-2.38. The fight between the fundamental and technical rages on.