XRP Price Remains Weak Despite Positive ETF Closures

Recent developments in the XRP market highlight potential risks despite positive closes from spot ETFs:

  • XRP's price action indicates a weak market structure, suggesting short-term risks persist.
  • New Year volatility has impacted crypto markets, with low trading volume and uncertainty causing pressure.
  • For successful trades against the trend at support levels, clear bullish breakout structures on lower timeframes are essential.

XRP

  • Technical analysis shows XRP losing the “Daily Imb” zone, weakening its overall structure.
  • If prices drop below recent swing lows, $1.98 is expected to be the first major resistance.
  • Key resistance areas include $1.98, the YO area, and a red boxed region, likely facing selling pressure.

Despite 18 consecutive positive closes for spot XRP ETFs, market structure and price action remain the primary indicators over ETF optimism:

  • These buys are considered part of a gradual accumulation strategy rather than confirming a trend reversal.
  • A potential buy zone could emerge around $1.53 if broader market behavior leads to further corrections.
  • Caution is advised when entering positions without clear breakout or reversal structures.

XRP