Bitcoin is consolidating in a narrow range between $82,000 and $86,000, while sentiment across the cryptocurrency market remains mostly subdued. Among the few exceptions, Ripple (XRP) has managed to retain a significant portion of its bull market gainsâthough the price has still plunged nearly 40% from its January 2025 highs, when XRP traded close to $3.30 per token.
Today, HashKey Capital launched a fund offering institutional investors in Asia exposure to Ripple. The fintech previously introduced similar investment products for Bitcoin and Ethereum. However, the XRP price showed little reaction to the news, as prevailing weakness in the broader crypto market continues to dampen bullish momentum.
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Although Ripple enjoyed a strong rally following its court victory over the SEC and positive comments from the White House, it has since been left to the forces of supply and demand. With few new growth catalysts and muted government statements on crypto, XRP has entered a deeper correction.
Currently, the price is testing the 200-day EMA (red line), which often acts as a trend indicator. A break below $2.00 could signal a retest of the $1.60 zone, where the last decline found support in early April. This area also marks the 61.8% Fibonacci retracement of the most recent upward impulse from Novemberâtriggered by Donald Trump's election win. The key resistance remains near $2.25, defined by previous price reactions.
Source: xStation5
