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XRP crashes 12.5% in TVL, ETF delay and war fears trigger selloff
- XRP Ledger TVL dropped 12.5% to US$54.2 million.
- XRP faces renewed downside pressure from geopolitical instability, regulatory uncertainty, and weakening network metrics.
- XRP rebounds slightly to $2.02 after testing major support near $2.
- Analysts suggest XRP might drop towards $1.47 with bearish technical formations in place.
- The US SEC delay on the Franklin Templeton spot XRP ETF hurt investor sentiment.
- XRP, affected by the ETF delay and broader crypto selloff, is trading just above $2.
- XRP Ledger's TVL decline signals reduced participation and weakening DeFi activity.
- XRP derivatives open interest fell by 36%, with negative funding rates indicating a bearish sentiment.
- XRP shows descending triangle pattern and a 'death cross' on technical charts, signaling potential downside.
- Support zones for XRP include $2.10–$2.09, $1.90–$1.77, and potentially $1.47 if breakdown occurs.
- Some market participants remain optimistic, with hopes for a successful defense of the $2 level leading to a potential path towards $3.
- XRP's outlook depends on technical factors and regulation, with $2 support level critical.
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