XRP Dips to $2.08 as Grayscale GXRP ETF Debut Fails to Spark Buying
XRP fell to $2.08 on Tuesday despite the launch of Grayscale’s Grayscale XRP Trust ETF (GXRP) on NYSE Arca, which provides direct exposure to the token. Traders are closely watching support at $2.03, with a breakdown potentially sending the price toward $1.91.
Originally a private placement in September 2024, GXRP was converted into a spot ETF alongside Grayscale’s Dogecoin listing. Krista Lynch, Grayscale’s Senior VP of ETF Capital Markets, called the launch “a meaningful step in broadening access to the growing XRP ecosystem” for retail and institutional investors.
The ETF joins an expanding roster of XRP products, reflecting strong institutional demand despite the token’s regulatory past. A 2023 federal ruling clarified that programmatic XRP sales were compliant, though direct institutional sales were classified as securities.
XRP traded in a $2.03–$2.15 range on Tuesday as profit-taking and weak spot flows outweighed ETF enthusiasm.
Key Levels:
- Support: $2.03; downside targets $1.91–$1.78
- Resistance: $2.20–$2.24
- Bitcoin weakness and renewed whale inflows may amplify pressure
Despite the ETF launch, technical factors continue to dominate XRP’s spot-market moves.
