The XRP price remains under intense pressure this month, even as the token continues to experience substantial demand from American investors. Ripple was trading at $2.1060 today, Dec. 8, down by over 42% from its year-to-date high.
Ripple Token Pressured Despite Strong Catalysts
The XRP price has remained under pressure despite the ongoing inflows into its recently launched exchange-traded funds (ETFs) in the United States.
Data shows that the Canary XRP ETF (XRPC) has accumulated over $335 million in assets under management (AUM) since its launch, driven by $363 million in inflows.
The Grayscale XRP ETF has over $211 million in assets, while the Bitwise and Franklin funds have $186 million and $127 million, respectively. This growth has brought the total inflows to $897 million and the total assets to $861 million.
These ETFs are likely to continue attracting inflows because XRP is one of the most popular coins in the crypto industry. It also has a utility as it continues to disrupt the financial services industry.
READ MORE: Crypto Market Crash Looms as Stablecoin Outflows Surge, Open Interest Plunges
In a recent statement, Brad Garlinghouse noted that cryptocurrencies account for 1% to 2% of the ETF landscape. He believes this figure will continue to rise in 2026, with most of the growth driven by blue-chip tokens such as Bitcoin, Ethereum, XRP, and Solana.
Ripple hopes that its recent acquisitions will help boost its growth. It has made four acquisitions this year, including Palisade, GTreasury, Hidden Road, and Rail. All these companies will help to increase the utility of the XRP token.
At the same time, the company hopes to become a major player in the stablecoin industry, where the Ripple USD (RLUSD) stablecoin has already crossed $1.3 billion in market capitalization, and its usage has continued to rise this year.
XRP Price Technical Analysis
The three-day timeframe chart shows that the XRP price has been in a strong downward trend in the past few months as the crypto market crash has intensified. It has dropped from the all-time high of $3.6680 in July to the current $2.10.
The token currently sits at a key level that has held it back from moving below in the past months. Most importantly, the token has formed a falling wedge pattern, with its two lines nearing confluence.
Therefore, the most likely XRP price forecast is bullish, with the next key resistance level to watch being the psychological $3 level, up by 43% from the current level.
On the other hand, a drop below the key support level at $1.8520 will invalidate the bullish outlook and signal further downside, potentially to the psychological level at $1.50.
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