$1.28B ETF Inflows Offset Bearish Triangle Near $2.05
Crypto writer
Arslan Butt
Crypto writer
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Ripple's XRP is trading at $2.06, with a 24-hour volume of $1.37 bn. The token ranks #5 globally, with a market capitalization of $124.9 bn. The circulating supply stands at 60.7 bn XRP, the maximum supply is 100 bn. Despite strong fundamentals, XRP has fallen 0.28% in the past 24 hours, extending its decline to a fourth consecutive session.
ETF yields are providing some support. Spot XRP ETFs attracted $1.28 billion, helping to offset selling pressure despite broader market sentiment being cautious.
Price: $2.06 Market Cap: $124.9B 24-Hour Volume: $1.37B ETF Revenues: $1.28B
Coinbase Pushback on Senate Bill May Put Pressure on XRP and Stablecoins
This week, Coinbase suspended its support for the US Senate Banking Committee's draft Market Structure Bill. Coinbase CEO Brian Armstrong said the draft has some big problems, particularly around stablecoins and the interest people earn on them. The proposed changes would “kill rewards on stablecoins by allowing banks to block the competition,” he said.
In simple terms, these rules prevent people from earning interest on stablecoins and give more control to traditional banks.
“After reviewing the text of the Senate banking bill over the past 48 hours, Coinbase unfortunately cannot support the bill as written,” Armstrong said. “This version will be materially worse than the current situation,” he added. “We'd rather have no account than a bad account.”
Stablecoins are digital currencies that are pegged to the value of the US dollar, and many people use them to earn interest. If these new rules are passed, they could limit how banks operate stablecoins, which could take away opportunities for crypto users and reduce competition.
Coinbase warns that this will shift control of money to banks and affect both investors and the broader crypto market. People are now watching closely to see how this plays out.
If these stablecoin limits are exceeded, XRP may face pressure as crypto investors may move cautiously, reducing demand. This could slow price growth and keep XRP near key support levels.
XRP Price Prediction: Breakdown of Descending Triangle Signals Below $2.05 to $1.90
With XRP currently trading around $2.0568, the XRP price forecast is neutral, sitting above a key support zone near $2.0527. Price action is compressing into a descending triangle, a structure usually associated with a bearish continuation. The lower boundary of the triangle coincides with horizontal support, while the upper trend shows a series of lower highs. Recent candlesticks show indecisiveness, with little shaped patterns and no obvious momentum change.
A leading technical indicator like the RSI is hovering near 45, indicating neutral momentum but a slight bearish tilt. The moving averages (red and blue) remain flat, indicating a lack of trend strength.
Fibonacci retracements of $2.1127 and $2.1911 highlight resistance zones if price splits to the upside, while $1.9764 and $1.9144 indicate downside targets. Until a critical move occurs, the triangle pattern remains in play.
A confirmed short setup below $2.0527 could open targeting $1.9144, while a break above $2.1127 would undermine bias and support a move to $2.1911. Trade Suggestion: Short below $2.0527.
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