XRP dropped under $1.50 on Thursday, quickly reversing gains from earlier in the week after initially surging past $1.60. The retreat comes even as US-listed spot exchange-traded funds contin
XRP dropped under $1.50 on Thursday, quickly reversing gains from earlier in the week after initially surging past $1.60. The retreat comes even as US-listed spot exchange-traded funds continued to post strong inflows.
Analysts had warned that XRP’s rally toward $1.60 would face significant selling pressure. Crypto analyst Ali Martinez highlighted this zone as a major resistance level, citing on-chain data that identified a cost-basis cluster—a region where about 2.5 billion XRP previously changed hands and many holders could consider taking profits.
Martinez noted that this area was critical for evaluating the sustainability of XRP’s rally, as traders were likely to sell or reduce positions if momentum faded. The token briefly broke through the $1.60 mark and reached about $1.66, but was unable to establish the former resistance as a new support level. Once XRP slid back below $1.60, profit-taking accelerated, leading to a swift pullback.
On-chain distribution data revealed a large supply of XRP concentrated between $1.60 and $1.66, making it a difficult range for buyers to break. Analysts emphasized that holding above resistance levels, not just surpassing them, remains essential for confirming a breakout.
Despite the decline, institutional demand for XRP remained steady. Data from SoSoValue indicated that US spot XRP ETFs attracted $18.04 million in net inflows on September 23, following $20 million in the previous session. Bitwise led with $11.54 million, while Franklin Templeton contributed $6.50 million.
However, this buying failed to offset broader profit-taking pressure. FXStreet analyst John Isige reported that XRP reserves on Binance rose to about 2.68 billion tokens, suggesting that investors were moving tokens to exchanges to sell and secure profits at elevated prices.
This trend highlights that ETF purchases, even at nearly $18 million a day, represent only a fraction of the overall market activity. Substantial selling by spot holders can easily absorb such inflows, resulting in a net price decline.
“Exchange reserves climbing shows more XRP is available for trading or selling, as investors seek to lock in profits after the recent surge,” FXStreet’s Isige wrote.
Recent developments in the meme token market underscore the importance of monitoring not only prices but also trading activity and timing. Fomo App data showed a noteworthy $99 purchase of “Niu Lai” that yielded approximately $370,000, exemplifying the rapid pace and unpredictability in this sector. App features such as real-time investor rankings and trade notifications offer traders new tools for navigating fast-evolving opportunities.
With the failed breakout, analysts are now watching lower support levels for XRP. Alejandro Arrieche of FXEmpire stated that increased selling above $1.50 could lead to a pullback toward $1.43. Arrieche suggested that while this retracement might be temporary, the changing macro environment and declining sentiment elevate the importance of the $1.43 to $1.45 support zone.
Unfavorable macro factors have added further pressure. Bitcoin’s slip below $85,000, following a rise in US Treasury yields, has weighed on major digital assets and clouded the near-term outlook for risk markets.
If XRP is able to maintain support around $1.43, it may signal a period of consolidation rather than a continuation of the sharp decline. However, failure to stabilize could prompt further losses and confirm the rally as short-lived.
The post XRP falls below $1.50 as $18 million ETF inflows fail to halt selloff appeared first on COINTURK NEWS.
