Overview
- XRP fell about 7–8% on Friday to an intraday low near $2.27 before stabilizing in the low $2.30s.
- The daily chart confirmed a bearish death cross, and price action remains confined in a descending channel.
- Traders are watching support at $2.28–$2.25, with a close below $2.25 likely exposing $2.20 and potentially lower levels; near-term resistance sits around $2.40 and $2.58–$2.65.
- Canary Capital’s spot XRP ETF launched with roughly $58 million in first-day trading volume, improving regulated access but requiring sustained inflows to shift trend.
- Futures metrics signal softer conviction, with open interest down to about $3.63 billion and a sub-1 long/short ratio, as the 4-hour 200 SMA and triangle retest zone form a key decision area.