XRP Gets Yet Another ETF, But $2 Looks Like It's About To Break

21Shares on Thursday launched its new XRP (CRYPTO: XRP) ETF on CBOE under the ticker TOXR, entering the market on a day when major altcoins like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) were deep in the red.

21Shares Launches Its XRP ETF On CBOE

The company said the product is designed to meet rising demand for diversified cryptocurrency exposure in the U.S. market.

Federico Brokate, global head of business development at 21Shares, told The Block that the ETF provides a direct way to gain exposure to XRP and the broader Ripple ecosystem. 

The firm appointed Coinbase (NASDAQ:COIN), Anchorage Digital Bank and BitGo as custodians to increase operational security.

Several issuers, including Grayscale, Canary Capital and REX Shares, have launched XRP funds over recent weeks, expanding a fast-growing segment of digital-asset products. 

XRP is widely used for low-cost, cross-border settlement and has become a focal point for investors seeking alternative layer-1 assets.

Market Pressure Mounts As ETH And SOL Drop Heavily

Ripple's XRP fell about 2.5% on Thursday, while broader altcoins saw sharper declines. 

Solana dropped 4% and Ethereum fell 5% as macro pressure and liquidity rotation drove intraday volatility. 

Despite the sell-off, ETF interest in XRP remains solid.

Cumulative XRP ETF inflows since November reached $954.33 million, a substantial figure given the current consolidation. 

Although daily inflows have slowed compared to early November, persistent net buying has helped absorb sell-side pressure during price weakness.

XRP Tests Critical Support Inside A Multi-Month Triangle

XRP Price Prediction (Source: TradingView)

Technical Analysis: XRP continues to trade inside a large symmetrical triangle that has been building since July. 

The token sits near the lower support trendline, making the $1.94 zone a critical area. 

Holding above this level keeps the structure intact and allows for a move back toward the mid-range.

Bollinger Bands show price hugging the lower band, often a sign of seller exhaustion during compression phases. 

If XRP defends $1.94, the next levels to watch are the mid-band at $2.1 and the descending trendline at $2.22 to $2.28. 

A close above that band opens the path to $2.35, where the Supertrend indicator flips.

A bullish breakout above $2.35 would shift market momentum and set up targets near $2.9 to $3. 

On the downside, a clean break below $1.94 exposes the lower trendline around $1.85 to $1.88.

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