XRP is trading at $1.42, down 3.2% in the last 24 hours, but analysts see strong underlying momentum.
Spot XRP ETFs recorded $25.8 million in inflows on Monday, the largest single-day total since January 5th. This brought cumulative net inflows to an all-time high of $1.35 billion.
Crypto funds net flows data. Source: CoinShares
Spot XRP ETF flows data. Source: SoSoValue
Cumulative net inflows into spot XRP ETFs
CoinShares reports XRP exchange-traded products saw $40 million in inflows last week, contributing to $191 million year-to-date. Analyst James Butterfill calls this a "notable acceleration," partly tied to the US CLARITY Act.
Spot market data is also bullish. Analyst CW8900 notes that XRP's 90-day spot taker cumulative volume delta has flipped green, signaling increasing buying pressure.
XRP spot taker CVD. Source: CryptoQuant
Futures open interest has risen 23% since the start of May. "It is preparing for another rally," CW8900 says.
Analyst ChartNerd sees a bounce off a multi-month support line setting the stage for a breakout to $1.80. CryptoPatel targets $10, calling for a repeat of the Q4 2024 rally.