XRP Falls to $2.29 As Price Slides Toward $2.27 Support After ETF Launch Drop

XRP trades at $2.29 after a 7.6% daily decline, placing the asset just above its support level at $2.27.

The inverse chart recorded a 10% drop shortly after the first U.S. spot XRP ETF launch, reflecting a rapid market reaction.

The asset had been moving within an ascending channel; the 24-hour range of $2.27-$2.52 defined the near-term boundaries.

XRP saw a notable pullback following the debut of the first spot XRP ETF in the United States, with the asset clearly weak on the chart less than an hour after going live. The inverse chart was down 10 percent, which highlights how the market had front-run the headline event. XRP was trading at $2.29, down 7.6 percent in the last 24 hours. The move puts the asset just above its key support line of $2.27 and well below the day’s high of $2.52. These figures frame a trading environment shaped by rapid reactions and closely watched levels, which creates the basis for deeper examination of the recent movement.

Price Pullback Aligns With Market Reaction After ETF Launch

The decline followed the official introduction of the first spot XRP ETF in the U.S. market. Notably, the drop occurred quickly, which shows how price activity unfolded before broader attention shifted to the announcement. The inverse chart captured this movement with a 10 percent slide visible soon after the event.

However, the spot price data provides an additional perspective. XRP’s 7.6 percent decline over the past 24 hours aligns with the intraday weakness shown on the chart. The asset’s position at $2.29 keeps it aligned with the direction illustrated within the drawn channel pattern. This link between chart behavior and daily performance supports the broader view of the current trading environment.

Chart Structure Highlights Channel Boundaries and Support Interaction

The chart shows XRP trading inside a rising channel, with the price bouncing near the lower boundary. The support area appears clearly marked, and the recent movement shows XRP approaching this zone once again. This behavior aligns with the visible lower trendline, which has captured previous touches during earlier declines.

Furthermore, the current price sits only slightly above support at $2.27. This tight spacing highlights how closely the asset trades within its lower channel boundary. The 24-hour range between $2.27 and $2.52 also reinforces the presence of defined levels that frame short-term activity. The chart’s upward projection illustrates potential future movement, yet the immediate focus remains on how price interacts with the support area.

Market Levels and BTC Pair Add Context to Current Conditions

XRP trades at 0.00002364 BTC, which shows a 2.4 percent change during the same period. This value supplies additional context by linking XRP’s performance to Bitcoin’s movement. The BTC pair strengthens the view of the asset’s positioning across different market metrics.

Additionally, the price action within the rising channel connects directly to the broader figures observed today. Each movement remains tied to the support and resistance levels shown on both the chart and the daily trading range. This alignment brings the focus back to the ongoing shifts that continue to shape XRP’s short-term structure.