XRP at Critical Juncture as Bitwise ETF Tops $100M Day 1
XRP has broken below its descending channel, placing bears in control of price action. The next support at $1.61 is crucial: a clean close below could spark a slide toward $1.27 or $1.00, erasing recent gains. Bulls need to reclaim the downtrend line to confirm any reversal. On the fundamental side, the newly launched Bitwise XRP ETF posted $25.7 million in day-one trading volume and reached $107.6 million in AUM, backed by a 0.34% management fee (waived for the first month on up to $500 million). This strong debut underscores rising institutional and retail demand for regulated XRP exposure, following Canary’s $245 million inflow. Bitwise’s strategic fee waiver aims to boost liquidity, tighten spreads, and capture market share. Traders will watch both the $1.61 support level and ETF flows to gauge XRP’s trajectory in the coming quarter.
Neutral
The article presents mixed signals: XRP’s technical breakdown below its descending channel is bearish in the short term, pointing to potential declines toward $1.27 or $1.00 if $1.61 support fails. However, the Bitwise XRP ETF’s strong debut—$25.7 million in volume and $107.6 million AUM with a fee waiver—demonstrates robust institutional and retail demand for regulated XRP exposure. Similar ETF launches (e.g., Canary XRP ETF) have supported price stability and boosted liquidity despite temporary pullbacks. In balance, technical pressures could trigger near-term selling, while ETF inflows may lend medium-term support. This offsetting effect suggests a neutral impact on overall market behavior.