Reasons behind today’s XRP price drop

Profit-Taking After XRP ETF Launch

The cryptocurrency market has suffered a sharp decline in recent days, losing nearly 4% of its total value and wiping out billions of dollars in market capitalization. Unfortunately, XRP investors have been particularly hit, seeing the token drop more than 4% in just 24 hours to trade below the $3 mark. Once the third largest cryptocurrency, XRP is now relegated to fourth place with a market cap of $168.32 billion.

A few days ago, the crypto market celebrated the launch of the first XRP-based ETF in the United States, which recorded a historic trading volume exceeding $37 million on the first day. Although this launch was a major breakthrough, it also triggered a classic “sell the news” reaction. Indeed, many institutional players who had built solid positions ahead of the launch chose to take their profits rather than hold for future gains. This wave of selling immediately put downward pressure on the price of XRP.

Outlook for XRP

The massive decline was exacerbated by large-scale liquidations. Data shows that traders faced nearly $22 million in liquidations over the last day, with 99% coming from long positions. This liquidation pressure fueled the bearish momentum, leaving many retail investors caught off guard.

Another factor contributing to XRP’s fall was the SEC’s update to ETF guidelines, clarifying future paths for crypto funds but also introducing stricter compliance rules for altcoins. This news shook investor confidence, leading them to adopt greater caution in the market.

Currently, XRP is trading around $2.80, struggling to stay above crucial support levels. Technical patterns suggest that if selling pressure continues, the token could fall toward the $2.50 to $2.60 zone. For bulls to regain control, XRP would need to break through resistance levels of $3.10 to $3.20, which could reopen the path to recovery.

How to Buy XRP on Zoomex?

XRP below $3 presents itself as a rare opportunity. Invest now, before the next rebound propels its price toward new heights.

Here’s how to buy it on Zoomex in just a few steps:

• Secure registration: Create an account on Zoomex with an email and a strong password. Complete KYC verification (ID) to activate deposits and withdrawals.
• Fund your wallet: Log in, access the “Wallet” section. Deposit funds via bank card (Visa/Mastercard), SEPA transfer, or cryptocurrencies (USDT/BTC). Fees <1%, instant for crypto transfers.
• Select the XRP/USDT pair: In the Spot market, search for XRP/USDT. Check the order book to confirm solid liquidity (volumes >$2.5 billion).

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