XRP Price Faces Key Support as Consolidation Phase Looms

XRP’s price recently dipped below the crucial $2.20 mark, fueling selling pressure as the market awaited a potential ‘death cross’ signal. Institutional investors have been consolidating their holdings, evidenced by significant withdrawals from exchanges in recent weeks. While long-term investors remain positioned to accumulate, short-term indicators suggest that the downward trend remains strong. Despite ETF inflows for Franklin Templeton and Grayscale’s XRP and GXRP ETFs, spot demand remains weak.