Key takeaways
- XRP has overtaken BNB to become the third-largest cryptocurrency by market capitalization.
- The coin could push toward resistance near $2.30 in the near term.
XRP rises above $2.10
XRP, the native token of the Ripple ecosystem, has climbed about 13% over the past seven days, outperforming Bitcoin and Ether during the move. The rally has been driven by renewed demand from both institutional and retail investors.
U.S.-listed spot XRP ETFs recorded inflows of roughly $43 million last week. Data shows that since their debut in November, these funds have maintained steady weekly inflows, reflecting growing institutional interest.
Five XRP ETFs reported about $13.6 million in inflows on Friday, bringing cumulative net inflows to approximately $1.18 billion and total net assets to about $1.37 billion.
Retail interest in XRP has also been gradually returning after a weak performance in December. Coinglass data indicates that XRP futures Open Interest (OI) rose to roughly $3.8 billion on Monday, up from $3.6 billion the previous day, with a weekly average near $3.3 billion on Thursday—suggesting retail demand is slowly re-emerging.
XRP eyes a breakout above $2.30
The 4-hour XRP/USD chart shows an efficient bullish structure as the token has posted strong gains in recent days. At the time of writing, XRP traded around $2.12, comfortably above the 50-period EMA support near $2.05.
The Moving Average Convergence Divergence (MACD) on the daily timeframe supports a positive outlook, with expanding green histogram bars above the signal line.
The Relative Strength Index (RSI) sits near 75 and is rising, which bolsters the bullish case for XRP. If the RSI continues higher, the token could enter overbought territory.
If the uptrend persists, XRP may target the next resistance levels represented by the 100-day EMA at about $2.22 and the 200-day EMA near $2.34. Conversely, failure to sustain upward momentum could see XRP retest the psychological $2.00 support level.