XRP Price Falls 3% After Rejection Near $1.44 as ETF Launch Delay Weighs on Sentiment

XRP Price Rejection Signals Weak Breakout Momentum

XRP declined about 3% after failing to hold gains above the $1.44 resistance level, highlighting continued selling pressure in the market. The token briefly moved higher during Wednesday trading but quickly reversed, slipping back toward $1.42 as sellers stepped in near resistance.

The failed breakout reflects weakening momentum across the broader crypto market, where profit-taking activity led by Bitcoin followed its recent surge toward the $80,000 level. This wider market pullback reduced XRP’s ability to sustain upward movement and confirmed that bullish conviction remains limited.

Trading volume increased during the attempt to break higher, but the lack of sustained buying pressure prevented XRP from establishing a clear upward trend.

Leveraged XRP ETF Launch Delay Adds to Market Uncertainty

Market sentiment was also affected by the delayed launch of GraniteShares’ planned 3x leveraged XRP exchange-traded funds. The firm has postponed the launch date to May 7, removing a short-term speculative catalyst that could have boosted demand.

These proposed leveraged products are expected to offer both long and short exposure, potentially increasing volatility among retail traders once launched. For now, XRP remains range-bound between resistance near $1.44 and support around $1.40, signaling consolidation until stronger catalysts emerge.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.