BEARISH 📉 : XRP Falls 7% Amid CNBC Price Confusion and ETF Outflows

CNBC mistakenly displayed XRP trading at $126, causing confusion among investors due to what appeared to be a 6,500% price surge. The error was attributed to using Solana's spot price instead of XRP's actual value.

Error Details

The mistake occurred during a Crypto World segment covering crypto market structure.
XRP was shown at $126.01, while its actual market price was $1.90.
Certain other prices were displayed correctly, such as Bitcoin at $89,532 and Ethereum at $2,996.

XRP Price descending channel | Source: TradingView

XRP is currently in a bearish trend, trading within a descending channel with key support at $1.70 and resistance at $1.90.

XRP ETF Outflows

During a market-wide correction, XRP ETFs saw $92 million in outflows on Jan. 29.
SoSoValue data indicates Grayscale XRP ETF (GXRP) led these outflows.
Total assets across all ETFs are valued at $1.2 billion.

Spot XRP ETF outflows | SoSoValue

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