Ripple-linked XRP slips amid bitcoin profit-taking, ETF delay

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Ripple-linked XRP slips amid bitcoin profit-taking, ETF delay Token falls 2.5% after rejection near $1.44 as leveraged ETF launch pushback adds to mixed sentiment. What to know: - XRP briefly broke above resistance near $1.44 before sellers pushed the price back toward $1.42, signaling a failed breakout. - The broader crypto market’s profit-taking, led by bitcoin after its run toward $80,000, weighed on XRP’s ability to sustain gains. - A delayed launch of GraniteShares’ 3x leveraged XRP ETFs to May 7 removes a near-term speculative catalyst, leaving XRP range-bound between resistance at $1.44 and support around $1.40. XRP moved higher briefly on Wednesday, but the move didn’t hold as bitcoin slid on profit-taking following its move to near $80,000 in Asian morning hours Thursday. Sellers stepped in near resistance and pushed price lower, suggesting the market still lacks conviction to break out, especially as broader crypto sees profit-taking led by bitcoin. News Background • GraniteShares has pushed back the launch of its 3x leveraged crypto ETFs to May 7, including XRP products. The delay removes a near-term catalyst that could have boosted speculative demand. • The proposed products would offer both long and short exposure, amplifying daily price moves and potentially increasing volatility once live, particularly among retail traders. Price Action Summary • XRP tested the $1.44 level before reversing and slipping back toward $1.42. • The move failed to sustain above resistance, with selling pressure accelerating into the close. • Price is now drifting back into its prior range after the rejected breakout attempt. Technical Analysis • The key signal is the rejection at resistance. Buyers pushed price higher but couldn’t maintain control. • Volume picked up during the move, but lacked follow-through needed to confirm a breakout. • The broader structure remains range-bound, with no clear shift in trend yet. • This kind of failed breakout often leads to either consolidation or a deeper pullback. What traders should watch • $1.44 remains the key resistance. A clean break is still required to change the structure. • $1.40 is the immediate support level. Losing it would increase downside risk. • Continued weakness after the rejection could push XRP back toward lower range levels. More For You Quantum fears focus on vulnerable early wallets, but market data suggests even a worst case sell-off would be large, not catastrophic. What to know: - A quantum computer could theoretically unlock around 1.7 million BTC from early wallets, but similar volumes of sell-side pressure have already been absorbed within months during past cycles. - The real debate is not market collapse, but whether Bitcoin should preserve strict property rights or intervene to freeze coins at risk.

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