XRP ETFs Achieve 25-Day Streak as Price Targets Key Resistance

Despite significant outflows from most major crypto Exchange-Traded Funds (ETFs) last week, XRP investment products attracted over $80 million, highlighting the growing interest in XRP as it seeks to regain momentum. As XRP recovers from a recent dip, market analysts are scrutinizing its performance and projecting potential gains.

Key Takeaways

XRP ETFs have countered trends in the broader market with $82 million in inflows while many funds saw significant outflows.
The total outflows from digital asset funds reached nearly $1 billion.
Analysts believe XRP's recent price correction may have ended, with indicators suggesting possible price increases.
If XRP breaks past the $2.20 resistance level, it could see a rally up to the $2.80-$3.00 range.

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XRP ETFs Steal the Spotlight

XRP ETFs are showing notable demand, boasting a 25-day streak of positive performance into last week. This is remarkable, given that crypto investment products overall experienced a challenging week, losing nearly $1 billion.

According to CoinShares’ latest weekly report, digital asset funds ended the week with outflows totaling $952 million. This marks their fourth-worst weekly performance of the year. CoinShares' Head of Research, James Butterfill, cited delays in the U.S. crypto market structure bill as a significant factor for this negative reaction. Such delays have led to increased regulatory uncertainty within the asset class and concerns over continued selling activity by larger investors.

The U.S. market particularly struggled, recording outflows of $990 million. Among the hardest-hit were Ethereum (ETH) funds, which saw losses of $555 million. Bitcoin (BTC) funds followed closely, facing $460 million in outflows.

In contrast, XRP ETFs ended the week positively with inflows of $82.04 million, marking a six-week streak of positive net flows according to SoSoValue data.

XRP’s Correction Already Over?

Throughout this period, XRP's price also rebounded from a decline that saw it hit a two-month low of $1.77. Market analyst BitGuru commented that XRP has completed its downtrend and is stabilizing within a crucial historical demand zone.

According to the analyst, "selling pressure is fading, structure is flattening, and this is where smart money usually starts positioning, not where panic happens." Additionally, trader Niels observed potential signs that XRP's corrective phase might be concluding, pointing to the formation of a double bottom pattern.

“RSI has bottomed out already, and now the price is showing favorable signs too,” Niels noted, suggesting that if momentum builds, XRP could enjoy a surge of 20%-25% toward the $2.30-$2.50 range in the upcoming weeks. Niels emphasized that breaking above the $2.20 resistance level—seen as the neckline of the current pattern—could ignite a rally toward the $2.80-$3.00 area within a month.

Meanwhile, analyst ChartNerd noted a bullish divergence in XRP's chart, stating, “Price action is adhering to the lower low price action trendline while forming higher lows on the RSI.” He warned, however, that should the altcoin fail to surpass the 20 EMA, currently around the $1.98 level, it may revert to the lower low trendline for support, likely resulting in further relief.

As of the latest updates, XRP is trading at $1.93, reflecting a 1.1% increase over the past week.

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XRP performance in the one-week chart. Source: XRPUSDT on TradingView