Investors pulled millions from XRP-linked exchange-traded products last week as uncertainty gripped the broader crypto market, but how does this fare for an XRP price prediction?
According to CoinShares, total outflows from crypto ETPs reached $2 billion, marking the largest weekly exit since February, with XRP products taking a significant hit.
“We believe the combination of monetary policy uncertainty and crypto-native whale sellers is the main reason for this most recent negative funk,” said James Butterfill, lead researcher at the crypto analytics firm.
Bitcoin and Ethereum ETPs bore the brunt of the outflows, seeing redemptions of $1.4 billion and $689 million, respectively.
Following the most recent FOMC meeting, Federal Reserve Chair Jerome Powell noted that a third rate cut in December was not guaranteed. This prompted analysts to revise their outlooks, triggering a broader market adjustment.
XRP Price Prediction: Key Support at $2.10 Holds… For Now
XRP has fallen 3.6% in the past 24 hours, slipping below the $2.20 mark and extending its weekly loss to 11%.
The recent formation of a descending triangle hints at a potential bearish breakout, raising concerns that the correction may not be over yet.
With the price now hovering above the $2.10 support on the 4-hour chart, this level is shaping up to be a critical line of defense.
If XRP breaks below $2.10, it risks falling as low as $1.77 — a potential 16% drop from current levels.
However, if it recovers and breaks above the triangle’s upper trend line, the outlook would turn decisively bullish.
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The post XRP Price Prediction: Millions Vanish From XRP Funds – Are Institutions Quietly Dumping Before a Bigger Crash? appeared first on Cryptonews.
