cryptocurrency marketIn the large-scale selling wave in 2017, the price of XRP fell 7.3 percent, breaking the $ 2.30 support. The decline, which came simultaneously with the first spot XRP ETF in the USA starting to be traded on Nasdaq, showed that investors were taking profits and were under institutional selling pressure. Although the ETF launch was a historical milestone, the market-wide risk aversion trend dragged the price down.
ETF Launch Succumbs to Price Pressure
Canary Capital The first U.S. spot Although this development ushered in a new era of institutional investment access for XRP, the launch day coincided with the general downward trend in the market. Bitcoin 
$103,128.64 While the sales led by investors strengthened the cautious stance of investors, they weakened the short-term outlook of XRP. FxPro analyst Alex Kuptsikevichstates that the current price structure maintains the appearance of a “widespread decline continuing within a short-term reaction rise”.
According to internal blockchain data, approximately 110.5 million units were sold before the collapse. XRP moved between unknown wallets. These high-volume movements increased volatility by increasing sell-side liquidity. While investor sentiment remains at the fear level, the weakening of the market’s macro risk perception indicates that the pressure on the token may continue.
Technical Structure is Broken, Critical Levels Are Being Followed Closely
XRP priceIt traded in a tight band of $0.23, falling from $2.48 to $2.30 in the last 24 hours. Volume of 157.9 million XRP was 46 percent above the 24-hour average. The main breakdown of the decline occurred in four minutes, between 07.32-07.35 TSI. While the price decreased from $2,313 to $2,295, a sales volume of 6.6 million was seen. The sales peak of 4.06 million on a minute basis was recorded as the liquidation explosion of the day.
Technical indicators confirm that the downtrend may continue if the price continues to stay below $2.36. According to analysts, the $2.29 level is the new primary support. In case of a downward break, there is a risk of a rapid decline to the $ 2.00-2.20 range. ETFCorporate fund flows will be the most important factor that will determine volatility in the short term. Investors will monitor XRPC trading volumes to understand whether institutions are viewing the ETF as a buying opportunity or a liquidity outflow.
