Grayscale's GXRP ETF was unable to support XRP.

XRP's Price is Declining

Grayscale has launched the GXRP ETF on NYSE Arca to increase XRP's institutional access. However, this positive news could not prevent the XRP price from dropping from $2.13 to $2.08.

Short-term technical factors overshadowed the excitement created by the ETF. This situation is attracting investors' attention and indicates that a potential price breakout may be on the horizon.

Levels that traders should pay attention to include prices below $2.03. A breakdown below this level could trigger further declines towards the $1.91 level.