XRP Faces Uncertain Trend as Market Fear Reigns

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PANews reported on December 6th that Vitalik Buterin stated in an article on the X platform that the industry urgently needs a "trustless on-chain gas futures market," similar to a "base fee prediction market," to address users' uncertain expectations regarding future fee trends. An on-chain gas futures market can clearly understand people's expectations of future gas fees and can even hedge against future gas prices, effectively prepaying a specific amount of gas for a specific period.

The post Why is XRP price crashing as the Ripple ETF inflows soar? appeared on BitcoinEthereumNews.com. XRP price has tanked for three consecutive days, erasing the gains made earlier this week, even as the recently launched ETFs gained momentum.  Summary XRP price suffered a harsh reversal as the recent rally stalled. Spot XRP ETFs continued seeing strong inflows this week. Technical analysis suggests that the token has more downside. Ripple (XRP) token dropped to $2.03 today, Dec. 6, down by over 44% from its highest point this year. This crash has shed billions of dollars in value, a move that has brought its market cap to $120 billion. XRP price has dropped even as its key fundamentals have strengthened. One of them is that investors have continued piling into its recently launched ETFs. Data compiled by SoSoValue shows that the funds have never had a day of outflows. They added $10.2 million in assets on Friday, bringing the weekly gain to $230 million.  Consequently, these XRP ETFs have now had over $897 million in inflows, with Canary’s XRPC leading the charge with over $363 million. Grayscale’s GXRP, Bitwise’s XRP, and Franklin Templeton’s XRPZ have attracted $211 million, $187 million, and $134 million in inflows, respectively.  The four ETFs now hold over $861 million in assets under management. With the REX-Osprey ETF included, these funds now hold over $972 million in assets.  Therefore, the XRP price has dropped because of the ongoing sentiment in the crypto market, which is deteriorating. Bitcoin and other altcoins have erased most of the gains made earlier this week as futures open interest drops and liquidations rise. XRP positions worth over $7.6 million were liquidated in the last 24 hours, leading to more selling pressure.  XRP price technicals explain the crash Ripple price chart | Source: crypto.news Technical analysis also explains the ongoing XRP price crash as it started when it retested…