I have been observing XRP over the past few weeks and things look complicated. The token has fallen from $3.65 to $1.44 now, and the concerning part is that XRP ETFs are no longer attracting capital like before. When they launched in November, they brought in hundreds of millions, but now they barely reach $10 million per month. There were even outflows last month.

The most interesting thing is that the Ripple ecosystem is also not taking off. The RLUSD, their stablecoin, is stuck at $1.4 billion while others like USDC and USDT continue to grow. The volume of RLUSD is very low compared to the alternatives. Ripple has made several acquisitions and launches to give utility to RLUSD, but it doesn’t seem to be working as they expected.

From a technical perspective, XRP is forming a classic bearish pattern with decreasing highs and lows. The RSI is below 50 and has already broken key support levels. If it continues to fall, it could reach $1.1175 or even $1.00. The downward pressure remains as long as RLUSD and ETF flows do not rebound.