XRP Extends Correction as Mutuum Finance (MUTM) Presale Promises Yield and Short-Term Upside
XRP has extended a corrective phase, trading near $1.36 after a July high of $3.66. Technical indicators show XRP inside a Gaussian Channel with immediate support at $1.16; a decisive break below that level could target roughly $0.70. Institutional exposure persists — Goldman Sachs reportedly holds about $153 million in XRP ETFs — but analysts highlight structural limits for XRP as a payments token: it lacks staking or fee-revenue distribution to holders, which reduces its appeal versus yield-bearing assets. On the newer development front, Mutuum Finance (MUTM) is promoted in an ongoing presale (Phase 7 price $0.04, Phase 8 $0.045; expected listing near $0.06). Mutuum reports a fixed 4 billion supply with 45.5% allocated to presale, over 850 million MUTM sold, roughly $20.5 million raised and about 19,000 holders. The project markets a non-custodial lending protocol where lenders receive mtTokens and can earn APY (example cited: USDT pool at 12% APY), a live V1 on Sepolia testnet, third‑party security audit claims, and marketing incentives (daily buyer leaderboard, $100,000 giveaway, card purchase options). The reporting notes this is a paid press release and urges due diligence. For traders: XRP’s outlook is driven by macro/BTC correlation and technical risk of further downside unless support holds; MUTM is framed as a high-risk, time‑bounded presale opportunity with yield narratives and promotional incentives that could drive short-term demand at listing but carries typical token‑sale risks including centralization of supply, incentive-driven price moves, and counterparty/product execution risk.
Bearish
For XRP: the combined reports emphasize continued corrective price action, clear technical support levels, and structural limitations as a payments token (no staking or fee-share). Those factors increase the likelihood of further downside if immediate support fails; institutional ETF holdings provide some bid but are unlikely to offset technical pressure short-term. That implies a bearish near-term price impact for XRP. For MUTM: the presale, claim of yield-bearing functionality, and marketing incentives create a narrative for strong listing demand, which could produce a sharp short-term price spike upon listing. However, presale/token-sale events are high risk and often lead to volatile, quickly reversed moves driven by incentive mechanics rather than sustainable demand. Overall market impact for XRP itself is bearish because the news highlights downside technical risk and structural constraints outweighing institutional interest.