Why hasn’t the price of XRP risen despite the strong inflows into ETF funds?
The price of XRP is in a state of stagnation despite the strong interest in XRP exchange-traded funds, which is primarily due to the differing locations of buying and selling transactions. Most purchases of ETF funds occur outside public exchanges, while the price is set within centralized exchanges where selling pressure continues.
During November, ETF fund inflows nearly balanced with the amounts of XRP sold on exchanges, which led to the cancellation of the upward demand effect on the price. However, data shows that XRP is capable of moving quickly when inflows shift to direct purchases within the market.
Currently, the odds of XRP dropping to one dollar seem very low, given the high liquidity and accumulation of buy orders near support areas between 1.80 and 1.90 dollars. Additionally, the price is recording higher low levels over time, reflecting strong support and the market's anticipation for a new catalyst that could change the direction.