XRP surges 80% in 24-hour trading volume, net ETF inflows hit $19 million

Analysts Target Higher Prices

MikyBullCrypto, a well-known cryptocurrency market analyst, identified XRP as one of the most promising digital assets currently. The analyst noted that XRP’s price chart appears bullish, suggesting a potential rally towards the $5 to $7 range in the future.

XRP underwent a structural shift following the July and August trading period, when its price remained below $1.00. The digital asset quickly gained momentum from those levels to reach $1.70, marking a significant departure from its previous bearish pattern.

After reaching $1.70, XRP entered a consolidation phase between $1.35 and $1.50, allowing the market to absorb recent gains. As of the latest data, XRP trades at $1.3787, up 2.82% on the day.

XRP’s technical landscape has strengthened above key support levels, with the asset maintaining its bullish trend after leaving behind its previous downtrend.

Support and Technical Indicators

Technically, XRP remains above both the 20-day exponential moving average of $1.35889 and the 200-day exponential moving average of $1.35485. Sustaining levels above these averages is regarded as essential for keeping the positive trend intact, while movement below them could indicate renewed weakness.

Both moving averages are near the current price, forming a tight support zone. If buyers hold these thresholds, XRP may attempt another move toward its upper consolidation range.

The relative strength index (RSI) for XRP is approximately 54.83, well below the earlier overbought territory above 75. This level indicates that XRP’s momentum remains constructive, with buyers still holding the advantage as long as the RSI stays above its neutral point at 50.

If XRP can advance beyond the current consolidation area while maintaining this positive momentum, its prospects for another significant move upward will improve.

Conversely, a decline below these technical support levels would suggest sellers have regained short-term control.

Trading Volume and ETF Inflows

XRP’s derivatives market activity has surged, as Coinglass reports a 24-hour trading volume jump of 79.53% to $2.40 billion. Open interest also climbed 1.49% to $2.89 billion, reflecting growing market engagement, particularly among leveraged traders.

A continued rise in open interest indicates a build-up in leveraged positions, increasing both the breakout potential and the risk of volatility if positions become heavily one-sided.

Whale Insider, a platform monitoring major crypto flows, reported net ETF inflows of $18.98 million into XRP in the past week. Consistent ETF inflows often signal steady demand from institutional investors.

Mini dictionary: Whale Insider, a data provider specializing in tracking large cryptocurrency transactions and market flows. Its reports are often referenced for monitoring institutional or “whale” movements in digital asset markets.