XRP Price Stabilizes at $2.85 Amid ETF Inflows and Profit-Taking Pressures

XRP Price News: Holds $2.85 After 3% Swing as ETF Flows Meet Profit-Taking The price of XRP has stabilized at $2.85 after a 3% swing in the past 24 hours, as investors weigh the impact of exchange-traded fund (ETF) inflows against profit-taking pressures. According to data from CoinDesk, XRP traded within a narrow range, oscillating between $2.822 and $2.84 before settling at $2.85. This price stability comes after an initial surge to $2.91 was met with sharp profit-taking, which capped gains and left the token consolidating. The recent price action is significant, as XRP has seen inflows of over $6 billion in just two days, driven by treasury adoption and institutional interest. However, analysts have noted bearish divergences and increased reserves on Binance, advising caution before a potential test of the $3.00 level. Regulatory scrutiny has also intensified, with reports highlighting a lack of corporate buy orders on Binance despite rising reserves. This has raised concerns among investors about the sustainability of XRP's price momentum. Market analysts have attributed the recent price swing to a combination of ETF flows and profit-taking pressures. "The inflows from ETFs have been significant, but they have also created a sense of urgency among investors to take profits," said one analyst. "This has led to a volatile trading environment, with prices oscillating within a narrow range." Stakeholders are closely watching the price action, as XRP's value is closely tied to its adoption and usage in various industries. Treasury adoption, in particular, has been driving demand for XRP, but analysts caution that regulatory uncertainty could impact the token's long-term prospects. Looking ahead, market experts predict a potential test of the $3.00 level, which could have significant implications for XRP's price momentum. "If prices break above $3.00, it would be a bullish signal for XRP," said another analyst. "However, if they fail to hold at this level, it could lead to a deeper correction." In conclusion, the recent price action in XRP has been marked by volatility and uncertainty. While ETF inflows have driven demand, profit-taking pressures and regulatory scrutiny have capped gains. As investors weigh their options, stakeholders are closely watching the price action, which is expected to continue influencing market sentiment. Key Statistics: XRP traded within a narrow range of $2.822-$2.84 before settling at $2.85 Inflows from ETFs exceed $6 billion in two days Bearish divergences and increased reserves on Binance raise caution ahead of the $3.00 test Regulatory scrutiny intensifies with reports highlighting lack of corporate buy orders on Binance Market Implications: Price stability at $2.85 after 3% swing in past 24 hours Volatility driven by ETF flows and profit-taking pressures Potential test of the $3.00 level could have significant implications for XRP's price momentum Stakeholder Perspectives: Treasury adoption driving demand, but regulatory uncertainty raises concerns Institutional interest remains strong, but investors cautious ahead of potential correction *Financial data compiled from Coindesk reporting.*