The price of XRP has experienced significant volatility, testing a key support level after a sharp decline. The altcoin began the week with a bullish surge of approximately 7%, but momentum reversed sharply on Wednesday, leading to a continued downtrend. As of the latest data, XRP trades around $1.74, having lost about 3.26% in the past 24 hours and over 11% since the previous weekend, with its price dipping to as low as $1.70.
Technical analyst Ali Martinez has pointed to a potential short-term rebound signal. In a recent analysis, Martinez highlighted that the TD Sequential indicator has completed a "9" count to the downside on the XRP chart. This is typically interpreted as a sign of dwindling selling pressure and potential trend exhaustion. Martinez postulates that if the $1.70 support level holds, XRP could see a price rebound, with initial resistance expected in the $1.80–$1.85 range, followed by a potential test at $1.90.
This technical analysis coincides with concerning data from the institutional investment side. U.S. spot XRP ETFs recorded a substantial net outflow of $92.92 million on Thursday alone, according to data from SoSoValue. While the first three days of the week saw positive net inflows totaling $23.87 million, Thursday's massive withdrawal flipped the weekly total to a net outflow of $52.26 million. This marks the worst week for XRP ETFs since their launch in mid-November 2025, which had previously attracted over $1 billion in cumulative net inflows. The cumulative net inflows have declined from a peak of $1.26 billion to approximately $1.18 billion.
The broader market context played a role in these outflows. The cryptocurrency market faced pressure last week following the U.S. Federal Reserve's decision to pause interest rate cuts and geopolitical tensions in the Middle East. Analysts note that while such significant ETF outflows often signal tapering institutional demand or profit-taking events, they do not necessarily indicate a long-term bearish outlook for the asset.
