XRP ETF Debut Stirs Limited Market Activity
XRP’s price edged down to $3.03, dropping 1.5% despite a major milestone. The launch of the first U.S.-listed XRP ETF didn’t spark a price surge, as expected.
The REX-Osprey XRP ETF, which started trading on September 18, saw a strong debut wiht $37.7 million in volume. Yet, it failed to boost XRP’s value significantly. Analysts suggest the ETF’s mixed structure—combining spot holdings with various financial instruments like foreign ETPs—limits its immediate impact.
Daily trading volumes fell by 12.6%, while derivatives activity cooled, with open interest down 0.8%. Traders are backing off and waiting for clearer signals, hinting at limited upside potential.
Technically, XRP remains in a tight range. Support rests near $2.95, while resistance sits at $3.18. Most momentum indicators are neutral. A sustained break above $3.00 could drive prices towards $3.18, with further gains possible. But if XRP dips below $2.95,it risks sliding to $2.85.
For now, XRP is in a wait-and-watch mode. While the ETF launch marks a regulatory step forward, broader market sentiment may steer future price movements.
