XRP gave back early gains after failing to sustain a push higher, as bitcoin-led profit-taking and a delay in a key ETF launch weighed on sentiment.
The token moved up briefly on Wednesday but reversed as bitcoin pulled back after nearing $80,000 during Asian trading hours on Thursday. Sellers emerged near resistance, highlighting a lack of conviction for a breakout as broader crypto markets cooled.
A near-term catalyst also faded after GraniteShares delayed the launch of its 3x leveraged crypto ETFs—including XRP-linked products—to May 7. The postponement removes a potential driver of speculative demand. The proposed ETFs are designed to offer both long and short exposure, amplifying daily price moves and likely increasing volatility once they begin trading.
From a technical standpoint, XRP tested the $1.44 level before turning lower and drifting back toward $1.42. The inability to hold above resistance reinforces the current range-bound structure, with selling pressure building into the close.
While trading volume increased during the attempted breakout, it lacked the continuation needed to confirm a sustained move higher. The rejection at $1.44 stands out as the key signal, indicating buyers were unable to maintain control.
XRP remains confined within its broader range for now. A decisive move above $1.44 is needed to signal a shift in trend, while $1.40 serves as immediate support. A break below that level would heighten downside risk and could push the token back toward the lower end of its range
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