XRP Pass $3 Den Fall 8% Before ProShares XRP ETF
XRP tok waka go up reach $3.05—na di highest level since early March—after big crypto rally wey make BTC hit $123,000. Dis move comot inverse head-and-shoulders breakout from di $2.20–$2.30 level, wey dey make people dey expect say e fit reach $4.80 or even $10 based on old pattern dem. SBI Global Asset Management CEO also talk say dem dey see more use of remittance for long term plus. For July 14–15, XRP begin drop 8% come from $3.02 go $2.78 cause institution people dey reduce risk before ProShares XRP Futures ETF launch for July 18. Trading volume jump to 216.1 million tokens during morning rally, later algorithms take profit. But as di session finish, e turn back go $2.87 with 112.8 million volume, wey show buyers still dey hold ground near $2.80 support. Key levels be $2.80 support and $3.00 resistance. Traders don start dey watch ETF capital flows and regulation update as things wey fit make market move. Market people believe say dis correction healthy so dem dey expect small trading range and better risk-managed strategy until inflow clear.
Neutral
For short term, di 8% drop for XRP before ProShares XRP Futures ETF launch dey show say institutions dey reduce risk and dey take profit, e dey cause bearish pressure and e dey keep small trading range between key support for $2.80 and resistance for $3.00. But that breakout wey happen earlier pass $3.00, wey broad crypto rally and inverse head-and-shoulders pattern finish am, e strong the underlying bullish momentum plus long-term upside potential. This kind mixed situation—healthy correction inside bullish technical setup—mean say near term outlook still neutral until ETF inflows or regulation development clear the direction for us.