XRP is under selling pressure following the anticipation of Ripple's RLUSD stablecoin launch. Despite positive news surrounding the launch, XRP witnessed a substantial increase in exchange inflows amounting to $28 million, which paradoxically has led to short-term price declines.
This unusual situation highlights the complexities of market psychology. Instead of rallying, the increase in exchange inflow suggests that holders might be taking profits or hedging against anticipated volatility, reflecting a lack of consensus about XRP's value and future price trajectory.
This development underpins how important it is to analyze not just the news but also the underlying market reactions.
