#xrp Selling pressure remains strong; $1.28 could be a key test!
Institutional funds are still flowing in. On October 6, U.S. spot XRP ETFs saw net inflows of $3.14 million, bringing cumulative net inflows to about $1.79 billion, but this has still failed to stop the price from falling. Evernorth’s listing has also been postponed from October 8 to around October 12, delaying a potential short-term catalyst.
Technically, $1.33 is the first key support level. If it breaks, watch the $1.27–$1.30 range, especially $1.28. Only a daily close back above $1.485 could indicate that this decline was a false breakdown.
Although short-term oversold conditions could trigger a rebound, that doesn’t mean the bottom is in. If weakness continues, be prepared for a possible drop toward $1.22.
Institutional funds are still flowing in. On October 6, U.S. spot XRP ETFs saw net inflows of $3.14 million, bringing cumulative net inflows to about $1.79 billion, but this has still failed to stop the price from falling. Evernorth’s listing has also been postponed from October 8 to around October 12, delaying a potential short-term catalyst.
Technically, $1.33 is the first key support level. If it breaks, watch the $1.27–$1.30 range, especially $1.28. Only a daily close back above $1.485 could indicate that this decline was a false breakdown.
Although short-term oversold conditions could trigger a rebound, that doesn’t mean the bottom is in. If weakness continues, be prepared for a possible drop toward $1.22.