XRP price trades below 50 SMA as $1.32 downside risk builds
Ripple continues to strengthen its position in traditional finance, but XRP is still responding primarily to selling pressure. With the previous bearish scenario now having played out, the key question is whether the market has already flushed out enough excess leverage.
1.1063
1.3414
Ripple is becoming a more visible competitor to traditional Wall Street banks in selected areas of the financial market. As The Wall Street Journal reports, the company has entered the leveraged ETF swap financing market through Hidden Road, which it acquired for $1.25 billion and now operates under the Ripple Prime brand.
Ripple Prime provides prime brokerage, clearing and financing services, including to ETF issuers and hedge funds. According to the WSJ, the company is targeting a niche where banking competitors face stricter regulatory and capital constraints. That is allowing Ripple to expand its presence beyond crypto infrastructure and deeper into traditional financial services.
Failure to reclaim $1.408 keeps downside risk elevated
The bearish scenario from the previous analysis has played out in full. XRP fell below $1.457 support and reached the $1.408 target.
The price remains below the 50-day SMA, keeping the risk of further downside elevated. If selling pressure persists, the next target would be support near $1.326.
The current setup would be invalidated by a recovery and sustained move above $1.408. In that case, attention would shift toward resistance near $1.575.
A cleaner derivatives market could support a healthier recovery
Despite pressure on long positions, XRP liquidations have so far remained relatively contained and have not developed into a broader cascade specific to the asset.
Reducing excess leverage can, in itself, make the market less vulnerable to another wave of forced selling. If XRP stabilizes after the current decline, a lower level of speculative leverage could provide a healthier foundation for a more sustainable recovery.
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