XRP price remains in a consolidation phase, with analysts suggesting a breakout above key resistance could strengthen bullish momentum and support further gains. Meanwhile, continued inflows into XRP exchange-traded funds highlight strong institutional confidence despite broader weakness across the cryptocurrency market.
At the time of writing, XRP is trading at $1.05 with a 24-hour trading volume of $1.6 billion and a market capitalization of $65.72 billion. Following the 1.25% gain over the last 24 hours, the XRP price structure and strong ETF growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: XRP Ledger Advances Institutional Finance With Open-Source Lending
XRP Price Could Rally if $1.65 Resistance Breaks
According to the crypto analyst EGRAG CRYPTO, the XRP price entered July below its 50-month simple moving average, reviving comparisons with previous market cycles.
Analysts note that in Cycles 1 and 2, the XRP price bottomed near the 88-month SMA before launching major rallies. The current setup has renewed speculation over whether history will repeat or this cycle will unfold differently for investors.
Source: EGRAG CRYPTO’s X Post
According to analysts, $1.65 is the key level of macro-resistance for the XRP price, indicating that breaking above this level will mean the beginning of another bullish phase and the road to $7.50 and perhaps $42.
Prior to that, the XRP price is stuck in a macro squeeze, waiting for either a retest of the 88-month SMA or a fast return to the 50-month SMA.
Bitwise XRP ETF Tops $505 Million in Net Inflows
The data from Coindesk further highlighted that despite the weak performance of the overall cryptocurrency market, the exchange-traded funds for XRP continued to attract more investments, indicating constant institutional demand.
The Bitwise XRP ETF is the biggest winner in terms of capital inflow at $11.94 million despite the sell-off pressures on most cryptocurrencies.
Source: Coindesk’s X Post
This latest flow has ensured that the net inflows of Bitwise have crossed $505 million from when the fund was launched back in November.
This continuous flow suggests that there is an increasing preference for ETF exposure, with XRP considered a long-term investment despite the volatile nature of the entire cryptocurrency market.
Following the bullish chart structure and strong ETF growth, the XRP price is moving in an upward direction as the general conditions in the crypto market have turned positive. As the BTC price has slightly surged, it has impacted the overall market, including altcoins.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: XRP Price Analysis: Is $1.65 the Key Macro Breakout Level?
