XRP bulls eye key support as TD Sequential flashes possible local top

XRP has fallen below the critical support level of $1.95 for the first time in 13 months, as noted by crypto analyst Guy on the Earth. This breach indicates a significant shift in market dynamics, with the analyst projecting a potential target of $0.90 if the downward trend continues.

Bitcoin exchange-traded funds (ETFs) have experienced a third consecutive day of outflows, while Ether ETFs have turned positive, indicating a shift in investor sentiment. This development comes amidst a broader market context where Bitcoin and Ether have faced significant losses recently, collectively shedding $1.14 billion in value due to liquidity concerns.

XRP has shown a lackluster performance recently, with price stagnation reflected in losses over 14-day, 30-day, and 60-day periods. Despite this, confidence in XRP is reportedly growing, as institutions and large holders are strategically positioning themselves to absorb market weaknesses, anticipating a shift in market dynamics.

XRP's price has dropped to $1.8800, marking its lowest level since December 19, and is approximately 50% below its peak this year, reflecting a broader downturn in the cryptocurrency market alongside Bitcoin and other altcoins.

XRP spot ETFs in the U.S. have accumulated approximately $1.2 billion in assets within a few weeks, contrasting with a decline in interest for Bitcoin and Ethereum ETFs as crypto prices soften. Despite XRP's recent struggles, the ETF inflows indicate a robust demand for this asset class.