XRP Bottom Forming, Analyst Says, But ETF Inflows Stall
Key Summary
XRP's on-chain volume surged as prices hovered near $1.25, with some analysts calling the level a potential bottom, but ETF inflows stopped after a 13-week streak, sparking questions about the market's sentiment.
Precedent & Market Context
Bitcoin's recent price movements have raised concerns about the recovery case, with some analysts warning of a potential collapse of the cycle bottom. Meanwhile, XRP's on-chain volume has surged as prices hovered near $1.25, with some analysts calling the level a potential bottom.
Main Event
XRP ETFs snapped a 13-week inflow streak last week, with total net assets falling to $1.47 billion and weekly trading volume dropping to $123.01 million. Analysts point to a combination of high exchange balances and fading whale activity as a potential sign of range-bound trading rather than a clean breakout.
Analysis & Market Impact
The surge in on-chain volume around $1.25 suggests that the level could mark the bottom of XRP's price, with some analysts predicting a rally toward $2 as long as that support holds. However, the stop in ETF inflows raises questions about the market's sentiment and whether the rally is sustainable.
Implications & Outlook
The combination of high exchange balances and fading whale activity has historically preceded range-bound trading rather than a clean breakout. As a result, investors may need to be cautious about making big bets on XRP's price, and instead focus on more fundamental analysis to determine the level of support and resistance.
- XRP's on-chain volume surged as prices hovered near $1.25, with some analysts calling the level a potential bottom.
XRP
Ali Martinez, CryptoQuant
Layer 1 / Layer 2 Infrastructure