XRP has seen a remarkable 428% increase in inflows over the past week, contrasting with $454 million in outflows across the broader crypto market. Despite this influx, XRP faces technical resistance near $2.10, with short-term focus shifting to the $1.95-$1.90 support area. Germany and Canada led the inflows, while US-based crypto products experienced significant redemptions.
Speculation about a potential partnership between BlackRock and Ripple for tokenized assets has fueled market interest, although no official confirmation has been made. Analysts highlight the importance of the $1.90 support level, with a failure to hold potentially undermining the bullish narrative. Meanwhile, some analysts suggest a breakout and pullback structure could support continuation if support holds, with a 60-65% probability of upside continuation.
Institutional flows have reinforced XRP's price divergence from the market, with $45.8 million in inflows during a period of significant outflows for other cryptocurrencies. This regional divergence indicates selective institutional positioning, particularly outside the US, contributing to XRP's price resilience.
XRP Inflows Surge 428% Amid Market Outflows, Eyes on $1.90 Support
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
