Ripple’s XRP has risen approximately 2% in the last 24 hours, approaching $1.34.
Institutional Demand Drives Recovery
This increase coincides with sustained institutional interest in spot XRP exchange-traded funds (ETFs), contrasting with the overall market downturn.
According to data from SoSoValue, spot XRP ETFs recorded $11.88 million in daily net inflows. This brings the cumulative total to $1.42 billion, or $1.12 billion in net assets. This figure represents 1.37% of XRP’s total market capitalization.
This follows a positive trend from the previous day, when these products saw approximately $1.77 million in inflows despite the broader cryptocurrency market’s decline.
While the inflows may not be substantial, they suggest a temporary trend of institutional accumulation of XRP amid market volatility.
Technical Outlook Remains Cautious
The continued inflows provide a positive narrative for bulls, but ETF demand alone has not been sufficient to fully reverse the broader downtrend in XRP’s price.
From a technical standpoint, XRP’s 2% daily increase is encouraging, but it does not signal a confirmed trend reversal. The token recently reached its lowest level since March, with the $1.20 region serving as a key support level.
The first significant upside level to watch is around $1.4. As previously reported, XRP’s 100-day moving average is near that zone, making it a key resistance level for buyers to overcome. A successful breakout above this level could lead to a move towards $1.5-$1.6 and improve short-term sentiment.
On the downside, a decisive break below $1.20 would be a bearish signal, potentially leading to a deeper correction. This is especially true if Bitcoin and the broader crypto market resume their decline.
For now, XRP’s price outlook remains cautious.
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