2025-7-8 05:02 |
Key takeaways
Ripple’s XRP is down less than 1% in the last 24 hours and could rally higher soon. Institutional demand for XRP continues to grow, with XRP digital asset products recording $10.6 million in weekly inflows.The cryptocurrency market is having a bearish start to the week despite the gains recorded on Monday. Bitcoin briefly dropped below $108k while Ether continues to struggle to surge above $2,600.
Ripple’s XRP is also consolidating as bulls defend the $2.2 support level. The coin could rally higher amid strong institutional demand.
Steady capital flow keeps XRP’s price highXRP, the native coin of the Ripple ecosystem, is down by less than 1% in the last 24 hours as major cryptocurrencies underperform. Despite the current consolidation, analysts believe XRP could break out soon and head towards new highs.
The rally could be fueled by growing institutional demand for XRP. Data obtained from CoinShares revealed that fund inflows into XRP-related financial products reached $10.6 million, accelerating year-to-date inflows to $335 million. The cumulative total assets under management (AUM) for XRP average around $1.4 billion.
Interest in XRP comes from various sectors of the market, including futures contracts’ Open Interest (OI). XRP’s OI has increased by approximately 25% to $4.69 billion since dropping to $3.54 billion on June 23. The increase suggests that traders have a bullish bias and a betting on a future price surge.
XRP’s technical outlook remains bullishThe XRP/USD 4-hour chart is bearish as the broader crypto market consolidates. However, the technical indicators are strong, suggesting a bullish bias for Ripple’s native cryptocurrency.
The bulls would have to surpass the key resistance levels at $2.33 and $2.47 in the near term to enable XRP to rally toward the $3 psychological region for the first time since January 2025.
The RSI and MACD indicators are both positive, suggesting that traders could be gaining exposure to XRP. In case XRP surpasses the $2.47 resistance level, it would need to overcome the May high of $2.65 to enable it to attempt the $3 mark.
However, a reversal is not ruled out, with the market sentiment still shaky thanks to renewed tariff talks. If there is a pullback, XRP could likely test the June support level of $1.90. The bulls would likely defend the 100-day Exponential Moving Average (EMA) currently at $2.22, the 50-day EMA at $2.21, and the 200-day EMA at $2.11.
The post XRP could rally higher on steady capital inflow; check forecast appeared first on CoinJournal.
origin »Ripple (XRP) на Currencies.ru
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