Bitwise XRP ETF to launch Thursday, but community questions ticker

XRP has experienced a significant decline, falling below the critical support level of $2.15. The drop is attributed to broader weakness in the cryptocurrency market and Bitcoin's recent 'Death Cross' pattern, which typically signals a bearish trend. This downturn occurs despite the absence of major catalysts influencing XRP's price directly.

On-chain data indicates that XRP retail investors have seen a 60% increase in profitability despite recent market downturns. This figure is compared to Bitcoin and Ethereum, highlighting XRP's resilience in the current cryptocurrency landscape. The analysis by Glassnode sheds light on the profitability of retail investors in the top assets.

Bitcoin fell below the $92,000 mark, trading at $91,500 after a 5% drop, marking a 17% decline over the past month. Market sentiment has shifted to fear as investors reassess risks following significant price fluctuations. Cameron Winklevoss suggested that prices under $90,000 may not last long, framing the current dip as a buying opportunity rather than a setback.

XRP's price action is currently following a corrective structure, indicating a potential drop toward the key support level of $2.03. As momentum cools and Wave 2 behavior unfolds, analysts suggest that the market may be preparing for one final dip before a shift to an uptrend. A decisive breakout above the $2.41 resistance level could invalidate this downward trajectory.

The SEC is advancing Bitwise's cryptocurrency ETF proposal, which includes XRP and Solana as key components. This move reflects a growing acceptance of cryptocurrencies in traditional finance, as the SEC's approval could pave the way for more institutional investment in these digital assets. The positive sentiment surrounding XRP and Solana indicates their resilience in a fluctuating market.

Bitcoin futures traders are showing resilience despite the cryptocurrency's price dropping to $89,000. The stability in the derivatives market suggests that traders may be anticipating a potential price reversal, indicating a level of confidence amidst the recent downturn.

Bitcoin futures traders are demonstrating resilience as the cryptocurrency's price drops to $89,000. Despite this decline, the stability in the derivatives market suggests that traders may be anticipating a potential price reversal, indicating confidence amidst the current market volatility.

XRP's price is at risk of a 25% decline to $1.55 due to a significant drop in ledger activity over the past four months. This downturn has raised concerns among analysts regarding the cryptocurrency's future performance.