# XRP moved higher briefly on Wednesday, but the move didn't hold as bitcoin slid on profit-taking.

*fintech · news · 2026-04-23 · CoinDesk*

## Key points

- GraniteShares delayed its 3x leveraged crypto ETFs launch, including XRP, to May 7.
- The ETF delay removes a potential near-term catalyst for heightened XRP speculative demand.
- XRP failed to break above $1.44 resistance and quickly slipped back to the $1.42 level.
- Selling pressure increased after the failed XRP breakout, signaling continued market indecision.

XRP moved higher briefly on Wednesday, but the move didn’t hold as bitcoin slid on profit-taking following its move to near $80,000 in Asian morning hours Thursday. Sellers stepped in near resistance and pushed price lower, suggesting the market still lacks conviction to break out, especially as broader crypto sees profit-taking led by bitcoin. News Background • GraniteShares has pushed back the launch of its 3x leveraged crypto ETFs to May 7, including XRP products. The delay removes a near-term catalyst that could have boosted speculative demand. • The proposed products would offer both long and short exposure, amplifying daily price moves and potentially increasing volatility once live, particularly among retail traders. Price Action Summary • XRP tested the $1.44 level before reversing and slipping back toward $1.42. • The move failed to sustain above resistance, with selling pressure accelerating into the close. • Price is now drifting back into its prior range after the rejected breakout attempt. Technical Analysis • The key signal is the rejection at resistance. Buyers pushed price higher but couldn’t maintain control. • Volume picked up during the move, but lacked follow-through needed to confirm a breakout. • The broader structure remains range-bound, with no clear shift in trend yet. • This kind of failed breakout often leads to either consolidation or a deeper pullback. What traders should watch

**Companies:** GraniteShares

[Read the full story on CoinDesk](https://www.coindesk.com/markets/2026/04/23/ripple-linked-xrp-slips-amid-bitcoin-profit-taking-etf-delay)

---

Canonical: https://newsio.io/n/205b88ac-a483-4123-baf2-c967b73c1eec/xrp-moved-higher-briefly-on-wednesday-but-the-move-didnt-hold-as-bitcoin-slid-on
Summarized by Newsio from CoinDesk. https://newsio.io/how-it-works