WisdomTree Withdraws XRP ETF Registration Amid Record Institutional Demand
- ETF Registration Withdrawal: WisdomTree has formally withdrawn its registration statement for the XRP Fund, despite XRP ETFs attracting $19.12 million in net inflows in just one day, highlighting a stark contrast between strong market demand for digital assets and regulatory caution.
- Inflow Details: On January 6, Franklin Templeton's XRPZ led the inflows with $7.35 million, followed by Canary's XRPC with $6.49 million and Bitwise with $3.54 million, indicating a sustained interest from institutional investors in XRP despite regulatory uncertainties.
- Market Performance Discrepancy: While the inflows into XRP ETFs were robust, XRP's spot price fell by 4.9% to $2.25 at the time of reporting, revealing a disconnect between institutional capital flows and market price performance, which could influence future investment decisions.
- Institutional Outlook: Standard Chartered has set a price target of $8 for XRP, implying approximately 300% upside from current levels, demonstrating that despite WisdomTree's withdrawal, there remains a strong institutional optimism regarding XRP's long-term prospects.
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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 5 technical signals, shows that 1 indicators are flashing buy, while 4 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 | 0.459 | 0.788 | 1.155 | 1.484 | 1.851 | 2.18 | 2.547 |
| Fibonacci | 0.788 | 1.054 | 1.218 | 1.484 | 1.75 | 1.914 | 2.18 |
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