XRP Price Drops 9% But Can New XRP ETFs Turn It Around?

The XRP price has slumped 9% in the past week and 0.6% in the last 24 hours to trade at $2.27 as of 3:50 a.m. EST on a 51% surge in trading volume to $4.41 billion.

This comes even as two major XRP ETFs prepare to launch this week.

Franklin Templeton is set to debut its XRP ETF tomorrow, while Bitwise will launch its fund on November 20, bringing hopes that new institutional inflows into the funds could help bolster the beleaguered crypto.

Canary Capital’s XRP ETF (XRPC), which debuted on Thursday, was the biggest ETF launch of the year, with first-day trading of $58 million.

XRP Price: On-Chain Activity Surges

While XRP’s price performance has disappointed traders in the past week, on-chain signals point to rising network activity. The number of active addresses on the XRP Ledger surged 40% this week, hitting about 32,000. A strong sign of growing interest even as the price falls

XRP Active Addresses Source: CryptoQuant.

There was also a 200% spike in network volumes, with nearly 2.56 billion XRP moving across wallets and exchanges in just 24 hours.​

Large investors have been highly active, executing 716 massive transfers and moving roughly 200 million XRP in two days. This level of activity typically precedes a sharp price move, though the direction is still unclear.

Traders are watching the $2.20–$2.00 support zone and the $2.35–$2.60 resistance area, as both coincide with key moving averages and previous swing highs.​

When buyers become so active but the price does not immediately rise, it often means they are preparing for a bigger shift. These signs: more active addresses, rising volume, and whale moves, suggest that sentiment is not as negative as the price drop might seem.

XRP Price XRP Technical Analysis: Rangebound, But Support Is Critical

The weekly XRPUSDT chart reveals continued volatility, but also clear zones where price is likely to find support. At present, XRP is trading near $2.28, recovering from a brief dip to around $2.07 earlier in the week. Strong buying quickly reversed the drop, showing buyers are defending key support levels.​​

XRPUSDT Analysis Source: Tradingview

There are several critical technical levels in play: Immediate support is found between $2.20 and $2.00. In the past few sessions, each time XRP neared $2.07, new buyers stepped in and price bounced.​

Key resistance lies in the $2.35–$2.60 band. If price can rise above $2.58, a move to $2.76 becomes likely, and then possibly $2.89 or even higher.​

The Relative Strength Index (RSI) shows rapid swings. Recently, RSI was as low as 31.76, an area known as sales saturation, suggesting any continued dip could soon reverse upward as traders buy oversold conditions.​

The MACD indicator hints at consolidation. With the blue MACD line staying close to the red signal line, it could mean a sideways phase or mild rebound before any major breakout.​

On the long-term chart, XRP remains above most major moving averages, and past ETF launches for other coins (like Bitcoin) saw price dips eventually followed by rallies. This supports expert predictions that recent ETF launches, even if met with selling at first, can help fuel a turnaround once new investors enter.​

If volatility continues and XRP breaks below $2.00, downside risk could emerge. But, as long as price holds above the support zone XRP could recover and push back toward the $2.58–$2.76 resistance area.

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