CLARITY Act · Cointelegraph
XRP traders say bullishness ‘growing’ as ETFs log largest inflow since January
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XRP analysts highlighted the potential for a sustained price rally, fueled by strong institutional demand and a strong technical structure.
Key facts
- XRP (XRP) price is down 3.2% in the past 24 hours and 6% below its recent high of $1.50 to trade at $1.42 on Tuesday
- CryptoPatel sets a more ambitious target, saying that the XRP/USD pair could repeat the Q4 2024 rally on “the road to $10” after breaking out of the $1-$1.30 accumulation range
- XRP exchange-traded products (ETPs) posted inflows totaling $40 million during the week ending May 8
- This streak has pushed the AUM to 1.18 billion and cumulative net inflows to an all-time high of $1.35 billion
Summary
XRP (XRP) price is down 3.2% in the past 24 hours and 6% below its recent high of $1.50 to trade at $1.42 on Tuesday. Spot XRP ETFs logged $25.8 million in inflows on Monday, driving cumulative net inflows to a record $1.35 billion. Analysts say XRP price shows potential for a sustained rally, with charts targeting as high as $10. Institutional demand for XRP investment products has been strengthening, according to data from CoinShares.