XRP Faces Downward Pressure Amid ETF Inflows

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Price Decline Trend: On June 2, XRP traded between $1.26 and $1.28, down over 3% in the past 24 hours and more than 5% over the past week, indicating weakened market confidence that could impact short-term trading activity.
Whale Withdrawals Decrease: Over the past 30 days, XRP whale withdrawals from Binance fell to about 978 million, marking the lowest level since 2021, suggesting a cautious stance from large holders that may lead to insufficient supply in the short term, affecting price movements.
ETF Inflows: XRP ETFs recorded inflows of $131.94 million in May, pushing total net assets to $1.11 billion, demonstrating sustained demand for regulated XRP products despite weak token prices, potentially providing support for future price rebounds.
Weak Technical Indicators: XRP's RSI stands at 31.55, nearing oversold territory, indicating a potential short-term bounce; however, the bearish MACD suggests that the overall market trend remains under pressure, necessitating close monitoring of support levels' effectiveness.

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Technical Analysis for XRP

Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

XRP (XRP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.149	1.203	1.263	1.317	1.376	1.431	1.49
Fibonacci	1.203	1.246	1.273	1.317	1.36	1.387	1.431

About XRP

Launched in 2012, the XRP Ledger (XRPL) is an open-source, permissionless and decentralized technology. Benefits of the XRP Ledger include its low-cost ($0.0002 to transact), speed (settling transactions in 3-5 seconds), scalability (1,500 transactions per second) and inherently green attributes (carbon-neutral and energy-efficient). The XRP Ledger also features the first decentralized exchange (DEX) and custom tokenization capabilities built into the protocol. Since 2012, the XRP Ledger has been operating reliably, having closed 70 million ledgers.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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