XRP Falls Below $1.50 Amid Steady ETF Inflows
Ripple's XRP price is falling below $1.50 despite steady inflows into US-listed XRP spot Exchange-Traded Funds (ETFs). The remittance token has been weakening for three consecutive days, with sellers taking control of the trend. The decline may be attributed to profit-taking in the broader crypto market, as majors Bitcoin and Ethereum slid below $83,000 and $2,650, respectively.
The area at $1.50 is crucial for XRP's price direction going forward. If it holds up, the bullish outlook will remain grounded. However, if it breaks down, it could signal a shift in the trend. The technical structure remains firm, underpinned by a moving-average support cluster.
The MACD indicator holds marginally above the zero line with a modest positive profile, while the RSI prints near 56, hinting at sustained but not overstretched buying pressure. Initial support lies at the 200-day EMA near $1.37, closely followed by the 50-day EMA at $1.36.