I noticed an interesting situation with XRP — the price is currently holding around $1.36, but if you look at the fundamentals, there’s a lot of positive news. Ripple recently received preliminary approval for an electronic money license in Luxembourg, which opens the door across Europe. It would seem like XRP should be rising, but the market is currently digesting the previous spikes.

The most interesting part is the value of ETF in supporting demand. Spot ETFs for XRP continue to draw in money, accumulating about $1.26 billion in net inflows. This is a pretty serious indicator of the value of ETF in supporting demand for institutional investors. At the same time, XRP volumes on exchanges have fallen below 2 billion tokens — from 4+ billion at the end of 2025. Usually traders read this as a drop in supply, which should have supported the price.

But here’s the key point: the value of ETF in supporting demand as a demand-support mechanism is clearly not enough to break through local resistance. After the rally from $1.80 at the start of the month, profit-taking has begun. Technically, the price is now in consolidation, where short-term traders control the move, while institutional investors are calmly accumulating in the background.

The key levels are simple: if $1.35 holds, then there may be an attempt to recover to $1.40–$1.42. A break below will open the way to $1.30 and below. The value of ETF in supporting demand as long-term support remains, but in the short term it doesn’t protect against technical corrections. For now, it’s more consolidation than a trend reversal.