XRP sits at $1.0667, down 1.76% in recent trading. The token remains trapped inside a descending wedge that's been squeezing tighter since June, despite a landmark $1.5 billion ETF inflow hitting the books this week. Ripple just announced its biggest capital markets push, yet the price refuses to budge north of $1.10.
The daily chart tells the story. Bollinger Bands are pinching hard, signaling the coin's run out of room to move without a catalyst. Volume has thinned. Traders watching the technical setup see a compressed spring waiting to release, but which direction remains unclear. The descending wedge itself suggests bears have the edge, though breakouts do happen faster than anyone expects.
Ripple's capital markets initiatives usually move markets. Not this time. Institutional money arriving through ETF flows hasn't translated into retail or hedge fund buying at spot prices. That gap matters. It tells you money is flowing into wrappers and futures, not chasing the token itself higher. The $1.10 level keeps acting like a ceiling, each bounce getting swatted back down.
Bollinger Band squeezes don't last. Something has to give soon, but timing these breaks is where most traders lose real money. Support is sitting near $0.98, resistance at the $1.10 mark remains stubborn.
This article is for informational purposes only and does not constitute investment advice. Cryptocurrency markets are volatile and unpredictable. Always conduct your own research and consult a financial professional before making any trading decisions.