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XRP jumps 18% as ETFs record $13.24M inflows – Is $1.50 next?
$XRP extended its rally after reclaiming $1 three days earlier. The altcoin recorded successive higher closes, flipped $1.30 into support, and reached a three-month high of $1.34.
At press time, $XRP traded near $1.308, up 18% over 24 hours.
Trading Volume rose 125% beyond $8 billion, confirming stronger market participation. However, the rally attracted fresh exchange-bound supply, creating a contest between institutional demand and profit-taking.
Why is institutional demand for $XRP rising?
$XRP received support from renewed institutional demand after broader market sentiment turned bullish.
According to BankXRP, $XRP Spot ETFs recorded $13.24 million in Net Inflows. This lifted Total Net Assets to $1.5 billion.
Bitwise and Franklin led demand as the only funds with positive Net Inflows. $XRP Spot ETFs had not recorded comparable inflows since late June.
ETF demand had previously accompanied $XRP’s price gains. For example, three consecutive inflow days in July aligned with $XRP reclaiming $1.10.
Fresh institutional demand could help $XRP preserve its latest gains. That institutional story also expanded beyond ETFs.
RippleX said Cicada Credit and Clearpool would build institutional credit infrastructure on the XRPL Lending Protocol. They plan to lend RLUSD to fintech and payment firms, potentially expanding XRPL’s institutional utility.
$XRP is attracting institutions through two doors: regulated market exposure and blockchain-based credit.
Can $XRP hold above $1.30?
$XRP reclaimed the 20-day, 50-day, and 100-day EMAs, reflecting strong short-term and medium-term momentum. The altcoin was testing the 200-day EMA at press time. A close above it could strengthen $XRP’s longer-term trend.
Meanwhile, Aroon Up recorded a bullish crossover and rose to 92%. Aroon Down fell to 71%.
Aroon Up favored buyers, but the elevated Aroon Down showed that downside pressure had not disappeared. If buyers close above $1.34, $XRP could target $1.50.
However, longer-term holders increased spending as the price climbed.
Spot Netflow turned positive for the first time in six days, reaching $8.16 million. Positive Spot Netflow indicated that Exchange Inflows exceeded Outflows, increasing the tokens available for sale. This created direct opposition to ETF demand.
If selling persists, $XRP could lose $1.30 and revisit $1.10.
Institutions are buying $XRP through ETFs while holders send it toward exchanges. The next move depends on which flow lasts.
Final Summary
- $XRP gained 18% and reached a three-month high of $1.34 as Trading Volume crossed $8 billion.
- $XRP Spot ETFs recorded $13.24 million in Net Inflows, lifting Total Net Assets to $1.5 billion.
Source: <a href="https://cryptonews.net/news/analytics/33329349/” target=”_blank” rel=”nofollow noopener”>cryptonews.net