The post How High or Low Can XRP Price Go After Fifth ETF Launch Today? appeared first on Coinpedia Fintech News
Big news for XRP holders. A brand-new XRP spot ETF goes live today, launched by 21Shares, a company that manages more than $5 billion. This is now the fifth XRP ETF approved in the US, and analysts say it could bring even more money into the XRP market.
In just the first eight days after ETF approvals, issuers already bought over 1% of XRP’s total circulating supply. This early demand is creating a supply squeeze.
XRP Supply on Exchanges Drops 45%
The biggest change in the market is the drop in XRP held on exchanges. At the end of September, exchanges held about 3.95 billion XRP. Today, they hold only 2.6 billion XRP. That is a 45% drop in only 60 days.
This matches ETF inflow data almost perfectly. For example, Binance lost $640 million worth of XRP, the same amount ETF issuers collected. This shows that ETFs are pulling XRP off exchanges fast.
40,000 New Wallets Hint Institutions Are Getting Ready
More than 40,000 new XRP wallets were created over the weekend. Blockchain data shows that many wallets are being prepared by custodians or institutions, not regular users. This is usually done before big companies start using a blockchain at scale.
Analysts think these wallets may be for businesses that plan to use XRP once the 2026 Clarity Act gives XRP full legal clarity in the US.
Is 2017 About to Repeat?
The current market pattern looks a lot like 2017, when XRP jumped from less than a cent to almost $4 in only 240 days. Back then, XRP supply on exchanges collapsed right before the price exploded. This year, the same thing is happening again.
However, in the last 24 hours, XRP price has dropped more than 7% and is trading near $2 level. Right now, the main resistance to watch is between $2.30 and $2.40. If XRP can break above $2.40 and stay above it, the price could move toward $2.60.
If the selling pressure continues, XRP price could drop below $2 and retest $1.83 (2024 swing low).
Source: https://coinpedia.org/news/how-high-or-low-can-xrp-price-go-after-fifth-etf-launch-today/
