XRP Plunges, Rebounds: ETF Launch Amidst Market Uncertainty

XRP experiences significant selling pressure, dropping by 4.3% to $2.22, despite the launch of a new US spot XRP ETF, XRPC, with $58.6M trading volume. Twenty-eight million dollars worth of XRP positions were liquidated, with 25M from long positions. The price rebounded sharply, but the overall trend remains bearish until key resistance levels are reclaimed. Holding above $2.22 is crucial for traders, as a move below could quickly push the price down. The new ETFs trading volume will continue to impact volatility.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.