Ripple’s XRP has recovered by around 2% over the past 24 hours, climbing back toward $1.34.
The move comes as institutional demand via spot XRP ETFs continues to stand in contrast to the broader market weakness.
According to data from SoSoValue for today, spot XRP ETFs recorded $11.88 million in daily net inflows, bringing the cumulative total to $1.42 billion or $1.12 billion in net assets.
The figure represents 1.37% of the total XRP market cap.
That follows yesterday’s positive reading, when these products saw about $1.77 million in inflows despite the broader crypto market downturn.
The inflows may not be massive, but they do indicate a temporary trend, with institutions continuing to accumulate XRP amid market instability.
The continued streak gives bulls a positive narrative, but ETF demand alone has definitely not been enough to fully reverse the broader downtrend observed in XRP’s price.
From a technical perspective, XRP’s 2% daily bounce is encouraging, but it is far from being a signal for a confirmed trend reversal. The token has recently slipped toward its lowest level since March, with the $1.20 region continuing to serve as a key support level.
The first major upside level to watch is around $1.4.
As we recently reported, XRP’s 100-day moving average sits near that zone, making it a key resistance level for buyers to reclaim. A successful breakout above it could open the door to a move toward $1.5-$1.6 and improve short-term sentiment.
On the downside, a clean break below $1.20 would be a bearish signal, potentially exposing the altcoin to a deeper correction. This becomes especially true if Bitcoin and the broader crypto market resume their decline.
For now, however, XRP’s price outlook remains cautious.
The post Ripple (XRP) Price Bounces 2% on Continued ETF Inflows: What’s Next? appeared first on CryptoPotato.
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