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BEARISH 📉 : XRP experiences $69M ETF outflows amid price decline
The XRP price started the week with a 7% increase but has since declined. A technical indicator suggests a potential short-term rebound for XRP.
TD Sequential Indicates Possible Trend Reversal
- Technical analyst Ali Martinez notes that the TD Sequential tool signals a possible XRP rebound.
- The tool tracks trend exhaustion, showing a completed “9” count indicating reduced selling pressure.
- If the $1.70 support holds, a price rebound is possible, with resistance at $1.80–$1.85 and potentially $1.90.
XRP ETFs Experience $69M Net Outflows
- US XRP Spot ETFs saw over $69 million in net outflows.
- Initial positive netflows of $23.87 million early in the week were offset by a $92.92 million outflow on Thursday.
- Net outflows suggest reduced institutional demand, possibly contributing to XRP's price decline.
- XRP trades at $1.74, having lost about 3.26% in value recently.