- Despite positive developments such as Trump’s inauguration and spot XRP ETFs, the bearish market trend remains unaltered.
- There was a significant outflow of $187 million worth of XRP tokens from exchanges, indicating accumulation by long-term investors.
The price of XRP has lost the $2.25 support level, and historical patterns indicate it could drop 13.5% to $1.90. Although positive developments have occurred in the cryptocurrency market, short-term sentiment remains bearish. This has reduced trader activity in the market.
XRP’s Futures Open Interest has steadily declined. On January 18, 2025, this indicator reached $7.62 billion, according to Coinglass. However, at the time of writing, it has fallen to $3.02 billion, near the year’s lowest level.
This reduction of more than 50% from its peak is due to the bearish outlook of the cryptocurrency market, which has led to the liquidation of open positions and less interest from traders.
Events such as the inauguration of U.S. President Donald Trump, who supports cryptocurrencies, and applications for spot XRP ETFs have not changed the trend. Day traders continue to follow the bearish direction, while long-term investors and institutions are buying XRP.
Coinglass reported an outflow of $187 million in XRP tokens from exchanges during the last week, suggesting accumulation.
XRP is trading near $2.23 at the time of writing, with a 0.85% drop in the last 24 hours. During the same period, trading volume fell 35%, showing lower participation from traders and investors.
ETHNews price analysis indicates that XRP remains bearish after falling below $2.25 and closing a daily candle below that level. This points to a possible further decline to $1.90, where the next support and the 200-day exponential moving average are located.
The outflow of XRP from exchanges indicates that long-term investors are accumulating the asset, which could generate buying pressure in the future. However, the current market sentiment prevents this potential from materializing for now.
XRP is currently trading at $2.18 USD, showing a 0.90% decline (-$0.01983) in the last 24 hours. Over the past week, the price has dropped by 20.61%, and it has decreased by 28.67% in the past month. Despite the recent drop, XRP has experienced a remarkable 284.13% increase over the last six months. Its year-to-date growth stands at 4.67%, and it has surged by 271.10% over the past year, which indicates that it remains a strong player in the crypto space.
XRP remains well below its all-time high of $3.40 USD, but it is still poised for potential upside, especially if the market conditions favor a return to bullish momentum. XRP’s long-term growth prospects are also tied to its adoption in DeFi, cross-border payments, and financial sector use cases.
