Key takeaways
- XRP has overtaken BNB to become the third-largest cryptocurrency by market capitalization.
- The coin could rise toward the short-term resistance level at $2.30.
XRP tops $2.10
XRP, the native token of the Ripple ecosystem, has gained 13% over the past seven days, outperforming both Bitcoin and Ether during the same period. This rally has been driven by rising demand from both institutional and retail investors, which has pushed prices higher.
U.S.-listed XRP spot ETFs recorded $43 million in inflows last week. Since their launch in November, these funds have seen steady weekly inflows, indicating growing institutional interest in XRP.
On Friday, the five XRP ETF products registered about $13.6 million in inflows, bringing total net inflows to $1.18 billion and total net assets to $1.37 billion.
Retail interest in XRP appears to be gradually returning after the token’s weak performance in December. Data from Coinglass shows XRP futures open interest rose to roughly $3.8 billion on Monday, up from $3.6 billion the previous day. The four-day average open interest had been about $3.3 billion, suggesting retail demand is slowly recovering.
XRP eyes breakout above $2.30
The XRP/USD 4-hour chart remains bullish and has shown strong performance in recent days. At the time of writing, XRP trades around $2.12, above the 50-period EMA support near $2.05.
The Moving Average Convergence Divergence (MACD) indicator looks positive on the daily timeframe, with expanding green histogram bars above the signal line—an indication of upward momentum.
The Relative Strength Index (RSI) sits at 75 and climbing, which supports the bullish outlook. Continued RSI gains could push XRP into overbought territory, signaling strong buying pressure.
If the bullish trend persists, XRP could target the next resistance levels at the 100-day EMA near $2.22 and the 200-day EMA around $2.34. Conversely, failure to maintain momentum could see XRP retest the psychological support at $2.00.