XRP Price Reaches Key Support Level as ETF Inflows Hit New High

XRP's price dropped by 2.46% over the last 24 hours, reaching $1.38 and testing its support at the 200-week exponential moving average (EMA) of $1.37.

If this level breaks, analysts warn that it could signal a bearish long-term outlook, with the next support sitting at the 20-week EMA of $1.27.

Bulls still hold a slight edge, as indicated by the Relative Strength Index (RSI) reading of 51, but the RSI line is trending downward, suggesting weakening buying pressure.

The selling pressure may be partly due to traders who bought XRP near $1.00 and sold after it reached $1.66.