XRP slipped after a short-lived midweek bounce faded, with broader crypto weakness and a delay in a leveraged ETF launch weighing on sentiment.
The token briefly pushed higher on Wednesday but reversed as bitcoin pulled back from a run toward $80,000 during early Thursday trading in Asia. Selling pressure near resistance signaled that market conviction remains limited, with traders locking in gains across major assets.
Sentiment was also hit by news that GraniteShares has postponed the rollout of its 3x leveraged crypto ETFs, including XRP-linked products, to May 7. The delay removes a near-term catalyst for speculative demand. The planned products would offer both long and short exposure, potentially increasing volatility once launched due to amplified daily price movements.
From a technical perspective, XRP tested resistance near $1.44 before turning lower and drifting back toward $1.42. The rejection reinforces the ongoing consolidation phase, with the market failing to establish a clear breakout.
Although trading activity picked up during the attempted move higher, it lacked sustained follow-through, suggesting buying momentum quickly faded. The rejection at resistance remains the key short-term signal.
XRP continues to trade within its established range for now. A decisive move above $1.44 would be required to shift the structure and signal renewed upside momentum. On the downside, $1.40 remains immediate support, with a break below it increasing the risk of a deeper pullback toward the lower end of the range.
