Ripple Price Plunges Below $1.50 Amid Broader Market Correction

Ripple's price has been struggling to regain momentum, currently trading below $1.50. The correction from its September highs of $1.66 is in line with the broader market trends, as major assets like Bitcoin and Ethereum face their own challenges.

The lack of institutional demand for XRP spot Exchange-Traded Funds (ETFs) has been a notable trend, with five consecutive days of inflows followed by muted activity on Wednesday and Tuesday. However, cumulative inflows remain high at $1.8 billion, suggesting that investors maintain a long-term positive outlook.

Technical analysis suggests that XRP is facing growing selling pressure, with the MACD confirming a sell signal. Despite this, uptrending moving averages may provide dynamic support for the token. Immediate support lies at $1.48, with deeper cushions emerging from clustered 50-day and 200-day EMAs between $1.38 and $1.37.