XRP holds narrow trading range as ETF optimism meets heavy long-term selling
XRP continues to trade in a low-volatility range as anticipation surrounding upcoming spot ETFs clashes with persistent selling from long-term holders. The token has regained ground above $2.00, but its ability to turn ETF-driven optimism into a sustained recovery will depend on whether it can overcome key resistance levels.
XRP trades in low volatility range
Over the past week, XRP has shown signs of renewed activity as inflows tied to upcoming spot exchange-traded funds (ETFs) sparked fresh interest - yet structural headwinds continue to cloud its near-term outlook.
Around mid-November, after several difficult weeks, the token regained a foothold above the $2.00 level as new momentum emerged.
A major catalyst has been the impending launch of spot ETFs by big-name issuers. In particular, the asset manager Franklin Templeton filed for its XRP ETF on 18 November, joining rival issuers on what many see as a coming wave of institutional access to XRP.
This development has stirred optimism among investors hoping that institutional capital could inject new liquidity into XRP markets and help reverse the broader downtrend.
Nevertheless, the path forward remains rocky. Despite some renewed buying interest, recent data suggest substantial selling pressure from long-term holders. Over the past several weeks, long-term wallets dumped tens of millions of XRP, significantly outweighing short-term accumulation.
Still, there remain reasons for cautious optimism. The combination of ETF-related institutional demand and a base of renewed short-term buying could create a foundation for a rebound - if long-term selling subsides and macro sentiment improves.
In short: over the last few weeks, XRP has seen a mixture of renewed institutional interest and heavy long-term selling.
Whether the token can translate ETF optimism into a sustainable uptrend - or whether selling pressure and macro headwinds will continue to hold it back - remains the key question into year-end.
XRP bullish case:
As long as XRP manages to remain above its key $2.0807-to-$1.8193 support zone - made up of the mid-April-to-November lows (except the 10 October spike low) - a short-term trend recovery may play out.
For it to occur, at the very least the 17 November high at $2.3025 would need to be exceeded on a daily chart closing basis. Only then could an attempt at reaching the October-to-November resistance line at $2.3406 be made.
XRP bearish case:
While XRP remains below the 17 November high at $2.3025, medium-term downward pressure may take the cryptocurrency back towards the major $2.0807-to-$1.8193 support zone.
Failure there would have bearish implications and may put the April low at $1.6153 on the cards.
XRP daily candlestick chart
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