XRP News Update: January 8, 2026
XRP is currently the "darling" of the early 2026 crypto market, significantly outperforming Bitcoin and Ethereum year-to-date. However, today (Jan 8) sees a slight cooling off after a massive rally earlier this week.
1. Price Action: The "Cool Down"
* Current Price: XRP is trading around $2.12, down roughly 2-4% over the last 24 hours.
* Context: This dip follows a massive surge earlier this week where XRP hit a high of ~$2.42 (Jan 6). Traders are currently taking profits, but the token is still up roughly 25% since January 1st.
* Key Support: Bulls are defending the $2.00 - $2.03 level aggressively. As long as it stays above $2.00, the trend remains bullish.
2. ETF Drama: WisdomTree Exits
* The News: In a surprising move confirmed yesterday, WisdomTree has withdrawn its application for a Spot XRP ETF.
* Why: Reports suggest they arrived "too late to the party." With competitors like Bitwise, Canary Capital, and 21Shares already dominating the market, WisdomTree likely saw little room for a new entrant.
* Market Reaction: Initially negative, but investors quickly realized this is specific to WisdomTree, not a regulatory rejection. The existing ETFs are actually seeing record demand.
3. Institutional "Supply Shock"
* Inflows: Despite WisdomTree's exit, the approved XRP ETFs are seeing massive inflows—approximately $100 million in the first week of 2026 alone. Total cumulative inflows have crossed $1.37 billion.
* Exchange Reserves: XRP reserves on exchanges have hit 8-year lows. This creates a "supply shock" scenario: institutions are buying heavily while available supply for sale is drying up.
4. Ripple Corporate News
* No IPO in 2026: Ripple President Monica Long confirmed this week that the company has no plans for an IPO (Initial Public Offering) in 2026.
* The Spin: While some investors wanted an IPO, Ripple frames this as a strength. They are cash-flow positive and "well-capitalized" (especially after their Nov 2025 fundraise), meaning they don't need to go public to raise money.
Summary for Traders
* Short Term: Expect volatility as the price consolidates around $2.12. The market is digesting the rapid move to $2.42.
* Long Term: The setup remains strong due to the "Supply Shock" (low supply + high ETF demand).
* Watch Level: If Bitcoin (currently struggling below $92k) drops further, it could drag XRP down to test the $1.80 support level.
