XRP Holds at $2.20 — $10.6M Inflows Hint at Breakout To $3
The post XRP Holds at $2.20 — $10.6M Inflows Hint at Breakout To $3 appeared on BitcoinEthereumNews.com. $10.6 million poured into XRP products last week, pushing year-to-date inflows to $335 million. XRP futures Open Interest surged 25%, rising from $3.54 billion to $4.69 billion, pointing to strong trader optimism and possible breakout momentum. Ripple-associated coin XRP continues to show strength around the $2.20 mark. The digital asset is holding firm despite broader market weakness. As seen in the markets, XRP is getting renewed interest from institutional investors, with over $10.6 million flowing into XRP-related products last week. This steady demand suggests XRP may be preparing for a breakout. Notably, the coin is eyeing the $3 level for the first time since January. Institutional Inflows Steady as XRP Clings to Support XRP is showing signs of resilience, staying above the $2.20 support zone even as Bitcoin and Ethereum struggle to hold recent gains. It is worth noting that on July 7, the largest digital asset, Bitcoin, briefly dipped below $108,000. Subsequently, Ethereum failed to break past $2,600. Yet, XRP remains one of the more stable assets this week. As highlighted in our previous news brief, CoinShares data indicate that XRP-related products generated $10.6 million in new capital over the past seven days. That pushes the total year-to-date inflows to $335 million. Assets under management for XRP currently stand at around $1.4 billion. This indicates sustained institutional confidence. Other market reports also indicate that Open Interest (OI) on XRP futures has risen significantly. Since falling to $3.54 billion in late June, OI has climbed by about 25%, reaching $4.69 billion. That jump indicates growing optimism among traders and suggests that many are positioning for an upward move. While the overall chart for XRP/USD on the 4-hour timeframe still shows market consolidation, technical readings support a bullish narrative. If the coin holds above $2.20, the next challenge lies at $2.33…
The post XRP Holds at $2.20 — $10.6M Inflows Hint at Breakout To $3 appeared on BitcoinEthereumNews.com.
$10.6 million poured into XRP products last week, pushing year-to-date inflows to $335 million. XRP futures Open Interest surged 25%, rising from $3.54 billion to $4.69 billion, pointing to strong trader optimism and possible breakout momentum. Ripple-associated coin XRP continues to show strength around the $2.20 mark. The digital asset is holding firm despite broader market weakness. As seen in the markets, XRP is getting renewed interest from institutional investors, with over $10.6 million flowing into XRP-related products last week. This steady demand suggests XRP may be preparing for a breakout. Notably, the coin is eyeing the $3 level for the first time since January. Institutional Inflows Steady as XRP Clings to Support XRP is showing signs of resilience, staying above the $2.20 support zone even as Bitcoin and Ethereum struggle to hold recent gains. It is worth noting that on July 7, the largest digital asset, Bitcoin, briefly dipped below $108,000. Subsequently, Ethereum failed to break past $2,600. Yet, XRP remains one of the more stable assets this week. As highlighted in our previous news brief, CoinShares data indicate that XRP-related products generated $10.6 million in new capital over the past seven days. That pushes the total year-to-date inflows to $335 million. Assets under management for XRP currently stand at around $1.4 billion. This indicates sustained institutional confidence. Other market reports also indicate that Open Interest (OI) on XRP futures has risen significantly. Since falling to $3.54 billion in late June, OI has climbed by about 25%, reaching $4.69 billion. That jump indicates growing optimism among traders and suggests that many are positioning for an upward move. While the overall chart for XRP/USD on the 4-hour timeframe still shows market consolidation, technical readings support a bullish narrative. If the coin holds above $2.20, the next challenge lies at $2.33…
What's Your Reaction?
