XRP Price Slides 15% In A Week — Can Bitwise XRP ETF Launch Today Stop the Drop

The XRP price has plunged 15% in the past week and 1.1% in the last 24 hours to trade at $2.12 as of 3.45 a.m. EST on a 29% jump in trading volume to $6.05 billion.

This comes as the long-awaited launch of the Bitwise XRP ETF begins trading today on the New York Stock Exchange under the ticker “XRP”.

The ETF is expected to bring new liquidity from institutional buyers, but uncertainty still shadows the Ripple token after a rough November.​

Bitwise’s move is big news for the XRP community. The fund has a 0.34% management fee (waived for the first month), and it’s custodied by Coinbase.

Bitwise’s XRP ETF is designed as a spot product, promising direct exposure to XRP’s price, unlike earlier crypto ETFs focused on futures.

With Grayscale and Franklin Templeton also set to launch XRP funds in the coming week, could these funds help stabilise the XRP price? ​

XRP Price Under Pressure As Sellers Dominate

Price action for XRP has been under sustained downward pressure. Data from Glassnode shows that over 41% of the XRP supply is now sitting at a loss, and only 58.5% of XRP holders are still in profit—the lowest level since late 2024, when XRP was trading near $0.53.​

On-chain analytics reveal whales have been selling since the summer, sparking a shift in sentiment to “anxiety.” Retail investors are also rushing for the exits, especially those with less than 100 XRP tokens.​

Still, the use of the XRP Ledger remains strong despite the price slump. XRPScan reports that transaction volumes are high, with multiple daily spikes not related to speculative trading, but to increases in utility.

Recently, over two billion XRP were moved on the network in one day, showing that payment and settlement use cases are still active. The ledger continues to record between 1.5 and 2 million successful transactions per day, outperforming many alternative blockchains, even as the coin’s price drops.​

XRP Ledger Transaction Count source: CryptoQuant

XRP Price Bulls Could Regain Control

The XRP price is now trading at $2.12, below the 50-week simple moving average (SMA) at $2.53 and approaching key support levels shown by the recent multi-month trading range.

Bears are in control, as the coin struggles to hold above the critical $2.10-$2.00 support zone. The 50-week SMA at $2.53 has become strong resistance after the recent breakdown. The 200-week SMA sits far below at $1.05, suggesting major long-term support remains distant.

XRPUSDT Chart Analysis Source: Tradingview

The Relative Strength Index (RSI) is at 41, showing that XRP is not yet “oversold,” but the trend is bearish and momentum is lacking.​ The MACD indicator is negative, with the main line below the signal and histogram bars in red. This signals that sellers are still in charge.​

XRP’s price is currently stuck between $2.00 and $2.50, with the $2.00 area now acting as key support. If bears break this level, price could drop quickly to $1.80 or even $1.60, close to the 61.8% Fibonacci retracement (at $1.60) from the previous big rally.

Below that, the 200-week SMA at $1.05 is the last “line in the sand” for long-term bulls.​ However, for any rebound, XRP price must reclaim $2.20–$2.25 first, then try to flip the 50-week SMA at $2.53 back into support. Only above $2.53 does the outlook start to improve, with upside targets near $2.72 (23.6% Fib) and $3.10 (previous local highs).​

Will ETF Launches Stabilise XRP?

The new Bitwise XRP ETF launch today is drawing huge attention from both institutional and retail investors. While it’s expected to add new liquidity and may attract fresh waves of buying, the broader negative sentiment and on-chain evidence of heavy selling make a quick turnaround uncertain.​

If today’s ETF launch sparks demand, XRP could find support and recover to higher levels. But if buyers do not step in strongly, price risks will drift toward lower supports in the coming weeks.

The next few days of trading will be crucial for deciding whether XRP price can finally stabilise, or whether the downtrend continues despite Wall Street’s latest crypto product launches.​​

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