Quick overview

Live XRP/USD Chart

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XRP spot ETFs saw net inflows of $39 million during the last week, despite the massive losses in the broader cryptocurrency market. Capital pulled out of Bitcoin and Ethereum products during one of the year’s most aggressive risk-off periods, which coincided with the inflows.

 

Ethereum ETFs lost about $166 million during the week, while Bitcoin ETFs saw net outflows of $318 million. It is significant to remember that the only significant asset with consistent inflows was XRP. Bitwise’s XRP ETF was the most popular. Canary’s XRPC brought in $2.93 million, while Franklin Templeton’s XRPZ added $3.94 million with $8.29 million in daily inflows.

The inflows followed the token’s nearly 70% decline from its most recent peak, which made it the worst-performing cryptocurrency among the top 100 during the correction. Since then, XRP has leveled off at around $1.42.

The fact that XRP is trading below the descending channel, as indicated by the chart, confirms a breakdown and strengthens the overall bearish trend. Any upside is likely to encounter resistance close to the lower boundary of the descending channel, even though there may be a brief relief bounce. The MACD is still negative, and the RSI is getting close to oversold territory.

A relief bounce might be triggered by a successful hold above the $1.35–$1.40 support zone. A break above the declining channel could allow for a move toward $2.30-$2.60, where strong resistance previously formed, even though the initial upside targets are located close to $1.80-$2.