Quick overview

Live XRP/USD Chart

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Ripple’s XRP price is in a free fall; the token is currently trading at $2.4 after briefly hitting $2.48, down more than 3.4 percent over the past day. The decline follows the highly anticipated launch of the Canary XRP ETF on Nasdaq, which initially sparked optimism but quickly triggered a wave of profit-taking.

Data from Santiment indicates that the spot market has experienced $68 million in outflows, even as there has been a significant inflow of $138 million into ETFs. This suggests that traders are taking profits after a remarkable 320 percent rally this year.

Despite the short-term dip, XRP maintains a robust market cap of $147.54 billion and has seen an increase of 8.75 percent over the past week. Market repositioning is evident, with daily trading volume rising by 34.37 percent to $6.14 billion.

Analysts interpret this rise in trading volume alongside the price drop not as a sign of diminishing long-term confidence, but rather as a strategy for profit booking and a cautious approach in the short term.

TradingView’s technical data paints a fragile picture, with XRP breaching the critical $2.41 Fibonacci support (38.2 percent retracement). Shorter-term averages are clustered closely, showing a phase of consolidation and indecision: the 10-day EMA is at $2.39, the 20-day EMA at $2.43, the 30-day EMA at $2.47, the 50-day EMA at $2.56, and the 200-day SMA at $2.63.