Traders Cash Out Bitcoin Gains, Driving XRP Lower Amid Robust ETF Activity

XRP Pulls Back After Resistance Rejection as Institutional Selling Surges

XRP faced a decisive rejection near $2.09–$2.10 on Wednesday, slipping back to the $2.00 psychological level as institutional flows surged 54% above the weekly average, signaling strategic distribution rather than retail panic. Despite the failed breakout, ETF inflows continue to quietly tighten supply under the surface.

What to Know

XRP dropped 4.3% from $2.09 to $2.00, underperforming the broader crypto market by roughly 1%.
A peak intraday volume of 172.8 million tokens—205% above the daily average—occurred around $2.08, confirming the breakout failure.
The session’s 54% above-average volume suggests institutional distribution rather than emotional retail selling.
Exchange balances fell from 3.95B to 2.6B tokens over the past 60 days, compressing supply even as price failed to hold the breakout. XRP now trades within a narrowing multi-month triangle, creating an asymmetric setup.

Market Context

U.S. spot XRP ETFs saw over $170 million in weekly inflows, continuing a streak of zero outflows.
Heavy selling persists in the $2.09–$2.10 band, where XRP has failed multiple times.
Market makers had flagged strong distribution pressure above $2.10 ahead of Wednesday’s move.
Despite ETF support, XRP lagged the broader crypto market as the CD5 index fell 3.1%, indicating token-specific weakness.

Price Action Snapshot

Intraday range: 5.4%, driven by resistance rejection and high-volatility unwind
Peak volume: 172.8M at 19:00 UTC (205% above daily average)
Resistance: Multiple rejections at $2.08–$2.10
Late-session support: Higher lows around $1.999–$2.005
Relative performance: Lagged broader crypto by ~1%