RIPPLE INTERMEDIATES LEVERAGED-ETF SWAPS AS XRP RETESTS $1.41 SUPPORT
$XRP is trading down 3.5% at $1.41 after pulling back from intraday highs of $1.48. On the fundamental front, Ripple has entered the high-fee leveraged ETF swap intermediation business to capture liquidity demand left by constrained bank balance sheets, keeping sentiment 68% bullish.
In my view, $XRP is undergoing short-term profit-taking after declining from $1.48 toward key support.
While institutional revenue potential from daily swap spreads provides long-term tailwinds, defending the critical $1.40 support level is necessary to prevent further downside toward $1.35, while resistance stands at $1.46.
The key level to watch is $1.40. If support holds, traders could see a potential rebound toward $1.48. A decisive break below $1.40, however, could open the door to further downside toward $1.35.
Disclaimer: This analysis reflects my personal research and is not financial advice for $XRP.
$XRP is trading down 3.5% at $1.41 after pulling back from intraday highs of $1.48. On the fundamental front, Ripple has entered the high-fee leveraged ETF swap intermediation business to capture liquidity demand left by constrained bank balance sheets, keeping sentiment 68% bullish.
In my view, $XRP is undergoing short-term profit-taking after declining from $1.48 toward key support.
While institutional revenue potential from daily swap spreads provides long-term tailwinds, defending the critical $1.40 support level is necessary to prevent further downside toward $1.35, while resistance stands at $1.46.
The key level to watch is $1.40. If support holds, traders could see a potential rebound toward $1.48. A decisive break below $1.40, however, could open the door to further downside toward $1.35.
Disclaimer: This analysis reflects my personal research and is not financial advice for $XRP.