10:53
XRP price falls to 2 dollars, traders follow the impact of the Spot ETF and potential bottom.
XRP price fell to $2 on Monday, sparking traders' interest in the upcoming Spot XRP ETF. In the overall dumping wave of the Crypto Assets market, XRP's decline surpassed that of Ethereum and BNB, primarily influenced by the liquidation of leveraged positions and ETF expectations. Data shows a significant outflow of funds from the sector in the past 12 hours, indicating clear short-term selling pressure.
Market analysts point out that this decline was not triggered by any new fundamental events, but rather typical leverage liquidation and "news dumping" effects. Traders view the Spot XRP ETF as a potential bearish factor, similar to the market reaction when Canary Capital and Bitwise launched their products. Historical experience shows that the initial listing of an ETF is often accompanied by short-term price fluctuations, followed by a possible correction.
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