Ripple’s XRP saw a decline of over 3% in the past day despite a strong 8% weekly gain. The dip follows the launch of the first XRP ETF on Nasdaq, triggering profit-taking and a shift in market sentiment. Technical indicators suggest that this correction might signal a weakening bullish momentum for the near term. Let’s break down the key factors behind this price movement: ETF Effect Initial excitement from the debut of the Canary XRP ETF on Nasdaq boosted investor confidence. While the ETF attracted $138 million in inflows, outflows of $68 million were recorded, indicating short-term selling pressure and a potential market volatility pattern seen in past Bitcoin and Ethereum ETF launches. **Technical Signals & Market Context:** The technical breakdown below the $2.41 Fibonacci level (a significant support line) signals fragility in XRP’s sentiment. This break invalidates an ascending triangle pattern observed previously, leading to stop-loss triggers for leveraged traders. Short-term moving averages remain relatively close to current price levels. The Relative Strength Index (RSI) stands at 49.98, suggesting neutral momentum while the MACD and Momentum indicator suggest waning upward strength. Traders are now closely watching if $2.30 (50-day EMA) will act as a next support zone where whale bids historically reappeared. **Wider Crypto Market Trends:** Crypto market risk sentiment remains low across the board. The Crypto Fear & Greed Index sits at 31, indicating fear, while Bitcoin dominance hovers around 59%, drawing liquidity away from other crypto assets. Trading volume for XRP surged to $6.13 billion in the past 24 hours, with roughly 72% attributed to selling activity (CryptoQuant). The combination of ETF-driven volatility, technical signals, and a cautious market environment suggests that XRP’s price may remain volatile as traders wait for signs of renewed bullish momentum. **Key Levels to Watch:** While the recent correction might have caused some doubt, several catalysts could reignite XRP’s bullish outlook. The 30-day SMA ($2.44) remains a crucial level; if XRP can reclaim $2.50, it may reestablish an upward trend and invalidate the current bearish structure. Traders will be closely observing ETF inflows, Bitcoin’s stability around $105K, both of which could significantly shape the price trajectory for XRP in the coming days.