XRP Price Struggles Despite the Success of its ETF | Credit: Hameem Sarwar
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Key Takeaways
The Canary Capital XRP ETF (XRPC) flows have surged.
The XRP price is trading within a descending wedge pattern.
Has XRP reached a bottom for this year, or are new lows likely?
The first XRP Exchange-Traded Fund (ETF) from Canary Capital went live on Nov. 13, posting impressive performance numbers on its first day.
Several other XRP ETFs are set to go live soon, with the first being Bitwise on November 20, followed by Franklin Templeton and Grayscale on November 24.
Despite the success of its ETF, the XRP price has struggled, breaking down from a long-term pattern.
While XRP could bounce in the short term, the long-term readings suggest that new lows could follow.
Canary Capital XRP ETF
Interestingly, despite its impressive performance, the Canary Capital XRP ETF (XRPC) has seen a significant decline in its price since its launch, dropping by 20%.
This may be due to the declining volume since the impressive launch, which saw total inflows of more than $58.5 million.
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The total four-day volume is roughly $128 million, making it one of the best-performing ETF launches of 2025.
Currently, the XRP price is at $21.70, after a slight bounce before the daily close.
The underperformance of the price relative to the ETF’s performance is slightly concerning, as it could lead to a more significant decline if inflows dry up.
Has the XRP Price Bottomed?
The XRP price action has exhibited a decline within a descending wedge pattern since the October 10 flash crash, which briefly resulted in a low of $1.77.
Today, the XRP price is nearing the end of the wedge pattern after bouncing at its support trend line yesterday(green icon).
As the wedge nears its conclusion, a decisive movement outside of it is likely. Because the wedge is a bullish pattern, a breakout is more likely than a breakdown.
However, momentum indicators do not align with this XRP prediction.
The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) created bullish divergences (orange), but they have now broken down from their trend lines.
This allows for the price of XRP to fall again to the support trend line before eventually breaking out.
If that happens, the next resistance will be at $2.50, created by the highs of October and November.
Long-Term XRP Prediction
While the short-term chart suggests the XRP price could break out, the long-term one is bearish.
According to it, XRP has broken down from its ascending parallel channel that existed since the start of the year.
The breakdown likely marks the end of the bull market and could lead to new lows.
The only thing preventing the XRP price from falling much lower is the $2 horizontal area, which has been in place since the start of the year. Except for a few wick deviations below
However, this time could be different, as the XRP price no longer has channel support.
Furthermore, the RSI and MACD are both bearish. They created bearish divergences before the decline and are now in bearish territory (indicated by the black circle).
Hence, the long-term XRP prediction is decisively bearish.
Therefore, the XRP price could break out in the short term, bouncing at the $2 area and validating the channel as resistance.
Bounce Before Breakdown
In the short term, XRP’s price structure suggests that a breakout from the descending wedge is still on the table, especially if the $2 support area continues to hold.
However, the broader trend remains weak, with the breakdown from the long-term channel signaling a deeper correction ahead.
For now, XRP may see a short-term recovery, but the long-term outlook remains firmly bearish unless the trend structure changes.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
