XRP Price Drops to $2.08 Despite Grayscale GXRP ETF Launch - Market Analysis

The XRP cryptocurrency has declined to $2.08 as Grayscale's new GXRP ETF fails to generate expected market momentum. The much-anticipated ETF debut didn't trigger the bullish response investors had hoped for, resulting in continued price pressure. Market analysts note that the lack of immediate positive reaction to institutional products like GXRP could signal broader market caution toward XRP-related investment vehicles. The current trading pattern shows XRP struggling to maintain support levels amid decreasing trading volume and muted investor enthusiasm following the ETF announcement.