XRP fell 3.3% to $1.22 overnight, giving back gains even as Ripple advances institutional infrastructure and BlackRock ETF speculation persists.
XRP declined to $1.22 during heavy June 17 selling, reversing a brief breakout as traders took profits at resistance. The move underscores a persistent disconnect: while XRP’s price enters volatile territory, fundamental tailwinds keep accumulating beneath the surface.
Read more: XRP’s price prediction
The Digital Ascension Group Chairman Jake Claver flagged the potential for BlackRock to eventually file for an XRP ETF, though the asset manager has not announced any formal filing. The comments fed ongoing speculation about institutional adoption, yet failed to stem current selling pressure.
XRP’s decline comes despite Ripple’s expanded payments infrastructure around its RLUSD stablecoin and cross-border settlement activity.
The downturn also mirrors the earlier performance of existing XRP ETF products launched by other providers, which saw fresh inflows even amid price declines. This structural demand—flowing through funds rather than direct spot purchases—has created a two-tier market: institutions buying through ETF channels, while spot traders move to sell rallies.
The breakdown below $1.23 support now poses a short-term concern, though longer-term accumulation signals remain constructive.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
