Analyst Discloses Sole Method to Delay XRP ETF Approval
XRP ETFs and Market Demand: A member of the XRP community believes that newly launched XRP ETFs will source tokens from the open market to meet high demand, potentially increasing market pressure and driving prices higher.
Strong Initial Performance: The first XRP ETF, Canary Capital’s XRPC, launched on November 13, attracting approximately $245 million in initial inflows, with total net inflows for four active ETFs reaching about $643.92 million in two weeks.
Price Resistance and Analyst Predictions: Despite significant ETF activity, XRP's price has faced resistance around $2.2 and is down 13% for the month, though analysts like Chad Steingraber predict that sustained ETF demand could eventually lead to price increases.
Escrow Purchase Rejection: Steingraber argues against the idea that ETFs will purchase XRP from Ripple's escrow, stating that the timing and volume of escrow releases would not align with the immediate needs of ETFs, which require quick access to tokens.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.518 | 0.818 | 1.155 | 1.455 | 1.793 | 2.093 | 2.43 |
| Fibonacci | 0.818 | 1.061 | 1.212 | 1.455 | 1.699 | 1.849 | 2.093 |
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