XRP price at risk despite key RLUSD metric soaring 56%

Ethereum has encountered significant resistance in its attempt to break through key price levels, resulting in a 26% decline in November. The cryptocurrency's struggles are compounded by a broader market downturn, with prices falling below critical support levels, raising concerns about a potential bear market.

An Ethereum ICO whale has sold 20,000 ETH, valued at approximately $58 million, amid intensifying selling pressure that has seen Ethereum's price fall below the critical $3,000 level. This decline has raised concerns about a potential prolonged bearish phase for the cryptocurrency, with ETH trading nearly 40% below its August all-time high.

The Dogecoin ETF has had a disappointing launch, failing to meet market expectations and underperforming compared to the XRP and Solana ETFs, which have seen significant inflows. The Dogecoin ETF only managed to generate $1.41 million in trading volume on its debut day, raising concerns about its attractiveness to investors.

Bitcoin's price briefly surpassed $90,000 on Wednesday, maintaining this breakout amid volatility in the broader cryptocurrency market. This marks a significant recovery from previous lows, showcasing Bitcoin's resilience.

Retail Bitcoin traders are facing significant challenges as the cryptocurrency's volatility disrupts their sleep patterns, highlighting the emotional toll of market fluctuations. Recent data shows Bitcoin's value has plummeted over 35% since early October, causing widespread panic among investors.

Bitcoin has recently experienced a price recovery, rising from a low of $80,000 to approximately $87,000, which has led to discussions among traders about whether this rebound signifies a genuine market recovery or merely a temporary 'dead cat bounce.' Analyst Peter Anthony argues that the prevailing bearish sentiment may be misleading, suggesting that this recovery could set the stage for a more substantial rally.

Institutional investors have recently shifted their focus from Bitcoin, Ethereum, and Solana to XRP, resulting in significant outflows from the former and inflows into the latter. A CoinShares report highlighted that Bitcoin, Ethereum, and Solana experienced outflows totaling $1.27 billion, $589 million, and $156 million respectively, while XRP saw a notable increase in investments.

CME Group has announced that spot-quoted futures for XRP and Solana will launch on December 15, pending regulatory approval. This development signals a significant step towards integrating these cryptocurrencies into mainstream financial products, potentially attracting institutional investors.