XRP News Today: XRP ETF Optimism Fades as Sellers Crush $2.15 Support, Deepening Downtrend

XRP's price slump deepened as the critical $2.15 support level collapsed, triggering a bearish technical structure that underscores prolonged selling pressure. The token fell 3.6% to $2.13 on Nov. 20, breaching a key psychological threshold that had previously acted as a floor for recovery attempts. The breakdown occurred amid a broader crypto market selloff, with Bitcoin's "Death Cross" formation - a bearish technical signal - amplifying risk-off sentiment across the sector according to technical analysis. XRP's failure to hold above $2.15 has intensified concerns about its ability to rebound, as sellers have consistently overwhelmed buying interest at micro-resistance levels like $2.30 and $2.35 according to market data.

Technical indicators further confirm the deteriorating outlook. XRP remains trapped beneath a cluster of exponential moving averages (EMAs), including the 20-day EMA at $2.35 and the 200-day EMA at $2.56, which form a heavy overhead ceiling according to technical analysis. A pennant pattern - defined by converging trendlines at $2.20 and $2.35 - has tightened, signaling a potential for a sharp directional move, though traders remain cautious. The 50-day EMA recently crossed below the 200-day EMA, reinforcing a Death Cross pattern that historically precedes extended downtrends.

While a wave of XRP spot ETFs launched in late October and November initially sparked optimism, the token's response has been muted. Four new ETFs, including those from Franklin Templeton and Grayscale, attracted $243 million in net inflows as of Nov. 14. However, XRP's price failed to capitalize on the influx, with outflows from spot markets persisting despite the products' debut. CoinGlass data reveals $9.4 million in outflows in the latest session, extending a multi-week trend of distribution. Futures open interest (OI) has also contracted sharply, averaging $3.61 billion - well below the $10.94 billion peak in July - and signaling weak retail participation.

Market structure analysis highlights the fragility of XRP's near-term prospects. A daily close below $2.00 would invalidate the current consolidation pattern, potentially accelerating the decline toward $1.96 and $1.90. Conversely, a sustained push above $2.40 could reignite bullish momentum, though sellers have shown aggressive defense of the $2.30 - $2.35 range. Analysts like Ali Martinez note that holding above $2.15 remains critical for maintaining a bullish setup, with a path to $2.40 - $2.70 contingent on ETF-driven institutional inflows.

Institutional and macroeconomic factors continue to weigh on XRP. Digital asset products saw $2 billion in outflows over three weeks, with XRP-related funds losing $15.5 million amid heightened volatility. CoinShares attributed the exodus to monetary policy uncertainty and a broader shift toward multi-asset ETFs. Meanwhile, Bitcoin's Death Cross has dampened risk appetite, with traders reducing exposure to crypto derivatives and ETFs. The interplay between macro trends and technical breakdowns suggests XRP could remain range-bound until late Q4, when the pennant pattern's apex aligns with potential catalysts.