Peter Smith
⬤ XRP is building a clean descending structure while holding firm above the $2.07 support zone—a level that's acted as a reliable floor through recent pullbacks. The price is now compressing as it approaches the apex of the downtrend line, suggesting a major move could be coming soon.
⬤ The launch of the Canary XRP ETF (XRPC) is changing the landscape by giving institutions a regulated way to gain exposure to the XRP Ledger. That's been a missing piece for XRP's market structure. While ETF inflows could boost liquidity and improve long-term sentiment, there are still risks—regulatory uncertainty remains, and if institutional money doesn't flow in at scale, the setup could lose momentum.
⬤ Right now, fundamentals and technicals seem to be converging. XRP keeps bouncing off that $2.07 support while the descending trendline has capped rallies for months. This kind of tightening pattern often comes before a decisive breakout. With institutional access now available through the ETF, the pieces are in place for a potential trend reversal—if XRP can break through resistance.
⬤ A clean break above the descending trendline would signal renewed momentum and confirm the bullish case. But if XRP loses the $2.07 support, the setup weakens and deeper corrections become more likely. For now, traders are watching closely as XRP sits at the crossroads of key support and long-term resistance, waiting for the next big move.
Peter Smith
