XRP Price Plummets to Four-Month Lows Amid Institutional Demand and Technical Weakness XRP, the cryptocurrency tied to Ripple, has fallen 7% in a single session, reaching four-month lows as traders grapple with a weak technical setup despite growing institutional interest. The price dropped from $1.2360 to $1.1497 over the past 24 hours, hitting levels last seen in February. Analysts note that while ETF products continue drawing inflows and exchange balances shrink, the market has failed to respond to bullish developments, shifting focus toward key support levels. The decline follows a broader downtrend that began after the $1.25 support level broke earlier this spring. Technical indicators suggest the token has erased its entire $1.20-$1.60 trading range, which defined its performance over the past four months. This has brought attention to support levels last tested during February’s selloff. The monthly RSI has fallen below 43, a rare occurrence in XRP’s history, signaling potential market resets. However, previous instances of this level did not always coincide with immediate bottoms. Institutional demand for XRP remains strong, with investment products recording $20.3 million in weekly inflows. This contrasts with broader digital asset funds, which saw $1.5 billion in outflows. Meanwhile, over 25 million XRP tokens have left exchanges in recent days, a trend typically associated with long-term accumulation rather than immediate selling pressure. Despite these signs of institutional buying, the price has yet to confirm any of this activity, leaving bulls cautious. Traders are closely watching the $1.14-$1.15 support zone, which now serves as the immediate barrier. A break below this level could shift focus toward $1.11 and potentially the sub-$1.00 area, as some bearish analysts suggest.#market_analysis #xrp #institutional_demand #ripple #technical_weakness
Wednesday’s Economic Calendar The Mortgage Bankers' Association compiles various mortgage loan indexes, with the purchase applications index measuring applications at mortgage lenders. This index is a key indicator of housing market activity and is typically released at 7:00 AM. The Consumer Price Index (CPI) is another critical economic metric, tracking changes in the average price level of goods and services. While the CPI is often used to gauge inflation, the text provided here appears to be incomplete, cutting off mid-sentence. Additional details about the CPI or other economic indicators would be necessary to fully contextualize the data. The article also includes placeholder text related to search functionality, such as instructions for entering text into an input field to update search results. These elements are likely part of the website’s interface rather than the main content. The focus of the article remains on the economic calendar, highlighting scheduled reports and their significance for market analysis. However, the incomplete nature of the CPI explanation suggests that the full article may not be fully available in the provided text.#mortgage_bankers_association #consumer_price_index #economic_calendar #housing_market_activity #market_analysis
