Ripple (XRP/USD) witnessing increased institutional inflows

Posted on

  • XRP accumulation accelerated in the first week of the year

  • Investors Bank on Ripple’s Victory Against the SEC

  • XRP Has Stabilized Above $0.31, The Price Could Increase From Here

if you are following Wave (XRP/USD), you already know that its case with the SEC remains critical. Based on the direction of the case, investors decide the price of XRP. However, the latest CoinShares report shows that institutional investors are heavily banking on a Ripple win.

According to CoinShares, there was an inflow of $3 million in XRP in the first week of 2023. On the other hand, investors pulled out $6.5 million and $3 million from Bitcoin and Ethereum, respectively. This could be positive news as it shows how much trust the market has developed in XRP. According to CoinShares, the influx reflects better clarity on Ripple’s case with the SEC. But despite this positive development, investment products involving XRP registered outflows worth $9.7 million.

From a fundamental perspective, we can argue that this is still a double-edged sword for XRP as the matter stands. The latest institutional inflows are positive to choose from, with settlement expected in the current first quarter. The technical outlook also favors a possible XRP accumulation around $0.31.

XRP Gains Stability Above Support at $0.31

XRP/USD Chart by TradingView

A price approach shows that XRP is moving higher after settling and consolidating above $0.31. Speed ​​has improved but remains weak. The MACD indicator is yet to cross above the neutral zone.

However, the volume indicators would be a bit exciting. The spike in buy-side volume suggests continued buying for XRP above $0.31. The previous bullish pin bar is acting as a buffer against bear pressure for XRP.

Will XRP Bullish?

If the price remains stable at the current level, there is a chance for XRP to move higher. The upside is likely to continue towards the resistance level of $0.4 in the short and medium term. The ongoing case with the SEC will determine whether xrp price Maintains recoveries.

where to buy xrp


eToro offers a wide range of cryptos such as bitcoin, XRP and others, along with crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or be copied by other users.

Buy XRP with eToro today


Binance is one of the largest cryptocurrency exchanges in the world. It is better suited for more experienced investors and it offers a large number of cryptocurrencies to choose from, over 600. Binance is also known for its low trading fees and multiple trading options that its users can benefit from, such as; Peer-to-Peer Trading, Margin Trading and Spot Trading.

Buy XRP with Binance today

Leave a Reply

Your email address will not be published. Required fields are marked *