Home Altcoins News XRP Price Under Pressure Again as ETF Rejections and Global Concerns Trigger Sell-Off

XRP Price Under Pressure Again as ETF Rejections and Global Concerns Trigger Sell-Off

XRP ETF rejection

XRP has once again come under selling pressure, sliding nearly 5% in the past 24 hours as investor sentiment weakens across the crypto market. After climbing to $2.254 earlier this week, the token has now dropped to around $2.164, extending its seven-day losses to nearly 9%. The sharp pullback coincides with increased trading volume and growing concerns about the regulatory and macroeconomic outlook.

While XRP remains one of the most actively traded altcoins, technical and market-driven factors are weighing heavily on its price. Despite ongoing developments by Ripple, including stablecoin expansion and global partnerships, market fear continues to dominate.

Trading Volume Spike Confirms Resistance at $2.19

One of the most significant sell-offs occurred between 3 PM and 4 PM, during which XRP’s trading volume more than doubled. This heavy activity pushed the price lower, firmly establishing resistance near the $2.19 level. An attempt by buyers to reclaim $2.179 fell short, and by early morning, bears had pulled the price down further to a new intraday low of $2.162.

The token is now trading just above $2.164, with a key support level forming near $2.147. This level has previously attracted buying interest, offering some hope of stabilization, but whether it can hold under current conditions remains uncertain.

Broader Market Mood Turns Cautious

The ongoing weakness in XRP is not just limited to technical levels. Broader market sentiment has turned cautious due to multiple external factors:

  • ETF Rejections: Recent decisions by regulatory bodies to deny several spot crypto ETF applications have added to the pessimism. These rejections have affected multiple digital assets, including XRP, which had seen optimism about possible institutional entry earlier in the year.

  • Global Macroeconomic Uncertainty: Tensions between the U.S. and China over trade, along with mixed signals from central banks about future interest rate moves, are contributing to a risk-off environment. This shift has hurt crypto markets, which are generally more volatile and sensitive to investor mood.

  • Regulatory Noise: Continued uncertainty about how U.S. agencies will treat cryptocurrencies, especially Ripple’s ongoing legal challenges, has prevented a confident bullish narrative from forming.

Analysts See Warning Signs in Trading Pattern

Market watcher and crypto analyst BullnChill pointed out the concerning combination of high trading volume alongside a price decline. This pattern often reflects a shift in market sentiment where sellers begin overwhelming buyers—sometimes signaling a deeper correction ahead.

He added that the combination of external economic stress and a lack of positive price reaction to Ripple’s recent developments, such as its RLUSD stablecoin, suggests that the market isn’t currently valuing expansion news as a major catalyst.

Technical Picture: More Downside Ahead?

From a technical standpoint, the outlook remains weak unless bulls can reclaim control of the $2.20 resistance zone. On the hourly chart, XRP appears to be trading within a descending channel, which is typically a bearish formation. Until this pattern is broken, short-term momentum could continue to lean downward.

Support at $2.147 is now the next critical level to watch. If that breaks, analysts are looking at $2.10 as the next possible target. This psychological zone could offer some short-term relief, but it will require stronger buying interest to reverse the trend.

Ripple’s Developments Have Yet to Influence Price

Even though Ripple is actively building out its stablecoin strategy with RLUSD and gaining regulatory traction in crypto-friendly regions like Dubai and Singapore, these efforts haven’t led to a noticeable improvement in market sentiment. It appears that most traders are currently focused on macro events and price action rather than project fundamentals.

That said, long-term holders may see this as an accumulation phase if XRP maintains critical support levels. The challenge, however, is whether confidence can return in the near term without a major external or internal catalyst.

Short-Term Outlook: Watch the $2.20 Resistance

For now, all eyes are on whether XRP can break back above the $2.20 barrier. If that happens, it could set the stage for a broader recovery toward the $2.25 range. But if the current trend holds, XRP could continue to slide toward the $2.10 level—or even lower if panic selling resumes.

With selling volume gradually cooling off, there’s some breathing room for XRP to stabilize. However, the burden remains on buyers to prove that this recent drop was temporary and not the beginning of a deeper correction.

Conclusion

XRP’s price is under renewed pressure, dragged down by ETF rejection headlines and growing global economic concerns. Despite Ripple’s efforts to build utility through new stablecoin infrastructure and overseas expansion, the market remains fixated on short-term risk factors. For traders and investors, the immediate focus will be on whether XRP can hold its current support or break above $2.20—a level that now acts as the gatekeeper for any meaningful rebound.

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Sakamoto Nashi

Nashi Sakamoto, a dedicated crypto journalist from the Virgin Islands, brings expert analysis and insight into the ever-evolving world of cryptocurrencies and blockchain technology. Appreciate the work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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