This period has been quite interesting for XRP — on the surface, it appears to be a tug-of-war between two forces, but behind the scenes, there are deeper market dynamics at play.

Let's start with the data aspect. Recently, XRP-related ETF products have been rapidly attracting funds, with the total scale surpassing the $1.3 to $1.4 billion range. The large-scale influx of institutional funds is quite obvious — aiming to build a support level around the $2 mark. But here’s the interesting part: are these massive funds genuinely optimistic about XRP’s long-term prospects, or are they making a different kind of strategic move? This is a question worth pondering.

Meanwhile, early investors who have held XRP since 2013 are beginning to cash out intensively. Those "old players" who have accumulated XRP for over a decade are choosing to take profits as the price has multiplied dozens of times, which is completely understandable from a psychological perspective. However, if such selling pressure continues to accumulate, could it exert downward pressure on the price? This is a reality that needs to be considered.

From another perspective, the $2 level seems to have become a defensive line. The price repeatedly tests this level but has not effectively broken below it, reflecting the market’s support strength to some extent. It’s like the calm before the storm — if ETFs continue to absorb funds, institutions maintain their involvement, and retail investors stay attentive, once these three forces resonate, XRP’s subsequent trajectory could undergo a qualitative change.

However, the market never follows a script. The blockchain space is never short of reversals and surprises. Therefore, the current strategy should be to closely monitor institutional movements — whether they continue to increase their holdings or gradually exit — which is often more meaningful than simply watching the price. Whether XRP can take off in 2026 largely depends on the actions of these big funds in the coming period.