Key Takeaways
- XRP has overtaken BNB to become the third-largest cryptocurrency by market capitalization.
- The token could climb toward resistance near $2.30 in the short term.
XRP eyes up to $2.10 and beyond
XRP, the native token of the Ripple ecosystem, has gained about 13% over the past seven days, outperforming Bitcoin and Ether during the same period. This move has been driven by rising institutional and retail demand pushing prices higher.
US-listed spot XRP ETFs recorded $43 million in inflows last week. Since their debut in November, these funds have posted steady weekly inflows, indicating growing interest from institutional investors.
Five XRP ETF products reported roughly $13.6 million in inflows on Friday, bringing cumulative net inflows to about $1.18 billion and total net assets to approximately $1.37 billion.
Retail interest in XRP is also gradually returning after the token’s weak performance in December. Data from Coinglass shows XRP futures open interest (OI) rose to around $3.8 billion on Monday, up from $3.6 billion the day before. The OI’s weekly average near $3.3 billion suggests a slow but steady return of retail demand.
Technical outlook: Toward $2.30 resistance
The XRP/USD four-hour chart looks constructive as the token has shown strength in recent sessions. At the time of writing, XRP trades around $2.12, sitting above the 50-day exponential moving average (EMA) near $2.05.
The Moving Average Convergence Divergence (MACD) indicator maintains a bullish bias on the daily chart, with expanding green histogram bars above the signal line.
The Relative Strength Index (RSI) sits near 75 and is rising, supporting the bullish case for XRP. Continued RSI strength could push the token further into overbought territory.
If the uptrend continues, XRP may target higher resistance levels represented by the 100-day EMA at $2.22 and the 200-day EMA at $2.34. Conversely, failure to sustain momentum could see XRP retest the psychological support around $2.00.