XRP (XRP) down 3.62% in the past 24 hours

Gate News Bot Message, December 11th, according to CoinMarketCap data, as of press time, XRP (XRP) is currently at $2.01, down 3.62% in the past 24 hours, with a high of $2.17 and a low of $2.00. The 24-hour trading volume reached $4.18 billion. The current market capitalization is approximately $121.366 billion, a decline of $4.56 billion from yesterday.

The XRP Ledger is a blockchain born for business, driven by a global community of commercial entities and developers, dedicated to solving real-world problems and creating value. With over ten years of error-free operation, it offers smooth development experience, extremely low transaction costs, high performance, and sustainability. The XRP Ledger features open decentralization, open-source availability, and community maintenance. Each transaction costs only a few cents, with seconds-level settlement capability, proven reliable over the continuous operation of more than 63 million ledgers. The platform integrates core functions such as decentralized exchanges, cross-currency payments, payment channels, multi-signature, and tokens. It is also developing WebAssembly-based smart contract hooks, and already supports innovative features like automated market makers(AMM).

Recent Important News:

1️⃣ Significant Divergence Between Spot ETF Capital Flows and Price Trends XRP spot ETF continues to attract institutional funds, with net inflows exceeding $170 million this week, and total accumulated inflows surpassing $1 billion, making it the fastest cryptocurrency to reach this milestone since the launch of ETH spot ETF. However, these continuous institutional inflows have not effectively pushed up the price, reflecting structural suppression factors in the market. The current supply and demand structure shows a special divergence—exchanges hold 3.95 billion XRP down to 2.6 billion XRP, a significant reduction in total supply, yet the price has not rebounded, indicating concentrated selling pressure at key resistance levels.

2️⃣ Key Technical Levels Forming Resistance, Short-term Momentum Weak The $2.10-$2.15 range is identified as a strong resistance zone, where hourly trading volume once surged to 172.8 million, 205% above the daily average level, indicating a clear willingness among institutions to distribute at resistance. The overall trading volume today increased by 54% compared to the 7-day average, further supporting the view that institutional funds are leading this correction. Technically, XRP has formed a multi-month triangle compression pattern, with short-term volatility diminishing, building energy for a next large-scale movement. $2.00 remains a critical support level, with $1.95 as a secondary support. Valid breakdown of $2.00 could trigger further correction.

3️⃣ Increased Competition Among New ETF Products, Management Fee Reduction Trend Obvious 21Shares has updated its XRP ETF (ticker TOXR), lowering management fees from 0.50% to 0.30%, now effective and awaiting listing. This move reflects intensifying competition in the XRP ETF market, with issuers offering fee discounts to attract assets. Franklin Templeton’s XRPZ has the lowest fee at just 0.19%; firms like Bitwise and Grayscale have also launched various fee waivers. The CBOE has approved the listing and registration of 21Shares XRP ETF, further expanding the market participant pool. The spot XRP ETF asset management scale has exceeded $1 billion in less than four weeks, indicating strong market demand for regulated XRP investment tools.

4️⃣ On-chain Fees Drop Significantly, Network Activity and Infrastructure Improvement Continue XRP’s daily total fees have dropped from 5,900 XRP/day in early February to about 650 XRP/day, a decrease of approximately 89%, the lowest level since December 2020. This indicates further optimization of network transaction costs, enhancing XRP’s competitiveness in payment applications. Meanwhile, the market cap of RLUSD stablecoin has surpassed $1.1 billion, with multi-chain deployment strategies significantly increasing cross-chain asset usage. Former Ripple CTO David Schwartz has re-engaged in XRPL infrastructure development, establishing a monitoring center to optimize network latency and improve validator node performance. The recent MPT tokenization standard launched on the XRP Ledger provides greater support for on-chain real-world assets, and ongoing infrastructure upgrades are consolidating ecosystem competitive advantages.

This message is not investment advice; please be cautious of market volatility risks.