XRP edges higher on renewed ETF inflows
- XRP edges higher alongside the broader crypto market as mild ETF inflows return.
- Bullish expands institutional access to digital assets by integrating Ripple Prime into regulated Bitcoin options markets.
- XRP upside appears capped below the 50-day EMA as a downward-turning MACD indicator weighs on the price.
Ripple (XRP) sustains modest gains, trading around $1.39 at the time of writing on Wednesday. The remittance token is aligned with the broader crypto market recovery, which has seen Bitcoin (BTC) rise from its weekly low around $75,650 on Tuesday to highs above $77,000 as of writing. A break above the $1.40 pivotal level would reinforce the bullish grip in XRP. However, if the upside remains capped at that level, the overall bearish bias would continue to shape the trend.
XRP institutional demand returns
Institutional interest remains on the back foot across digital investment products, as seen with Bitcoin spot Exchange-Traded Funds (ETFs), which experienced outflows on Monday and Tuesday. However, XRP spot ETFs beat odds to posit mild inflows of $2.2 million on Tuesday, following muted activity on Monday, according to SoSoValue data.
Cumulative inflows now stand at $1.29 billion, with net assets under management averaging $1.05 billion. Demand for XRP ETFs must steadily increase to affirm positive market sentiment and raise XRP’s recovery potential.
Meanwhile, Bullish, an institutional-grade cryptocurrency exchange based in the Cayman Islands, has integrated Ripple Prime into its Bitcoin options trading. The integration provides Ripple Prime clients with direct access to Bullish’s regulated BTC options markets, with no additional know-your-customer (KYC) requirements.
RLUSD, Ripple’s stablecoin, can be used to pay fees on the exchange. Ripple Prime is a non-bank multi-asset brokerage platform.
Technical outlook: XRP’s $1.40 breakout in the offing
XRP trades above $1.39 as of writing on Wednesday. The upside remains capped in the short term, with price holding below the 50-day Exponential Moving Average (EMA) at $1.41 and well under the 100-day and 200-day EMAs at $1.52 and $1.76, respectively. Combined, the moving averages suggest a broader bearish structure despite the ongoing consolidation.
The Relative Strength Index (RSI) hovers just below the neutral 50 midline on the daily chart, hinting at only modest downside momentum, while the Moving Average Convergence Divergence (MACD) histogram has slipped back into negative territory, reinforcing a softening of recent bullish attempts.
On the downside, initial support is seen near the former rising trendline around $1.34, where buyers may attempt to stabilize the price if selling pressure resumes. On the topside, immediate resistance lies at the 50-day EMA around $1.41. A sustained break above this level would be needed to ease the current bearish bias and pave the way for gains toward the 100-day EMA near $1.52 and the 200-day EMA around $1.76.
(The technical analysis of this story was written with the help of an AI tool.)
Ripple FAQs
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
