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XRP faces selling pressure, with profit-taking and ETF capital inflows affecting market outlook
On Wednesday, Ripple (XRP) dropped to $2.22. Amid widespread market panic and profit-taking, fluctuations appeared near the short-term support level. Meanwhile, the SOPR indicator fell from 1.08 to 1.05, indicating that investors’ confidence in maintaining the upward trend has weakened. If XRP breaks through the downward trendline, it could advance toward $3.00; if it closes below $2.22, it may test support levels at $2.07 or $2.00. Although Tuesday’s capital inflow decreased from $46 million to $19 million compared to the previous day, since November last year, the XRP ETF listed in the US has maintained steady demand, with cumulative capital inflows reaching $1.25 billion and net assets totaling $1.62 billion. From a technical perspective, XRP remains above the 100-day moving average, while the Relative Strength Index (RSI) has fallen from overbought levels to 64. However, the MACD indicator shows positive divergence, indicating a potential breakout.