US spot XRP exchange-traded funds saw around $38 millionin two trading sessions, showing a fresh sign of investor demand.
XRP has also recovered to around the $1.56price level, but it has yet to overcome selling pressure near the $1.60price level. It must overcome this level before the latest rise it is seeing can develop into a stronger one.
Bitwise leads latest XRP ETF inflows
XRP ETFs saw $14.89 millionin net inflows on September 24, according to SoSoValue data. This was after it saw around $23.17 millionin the previous session, bringing the two-day total to just over $38 million.
Bitwises fund led the latest daily inflows with $9.91 million. Franklin Templeton followed with $4.98 million, while no net movement could be seen from the other listed products.
The five funds now hold a combined $1.70 billionin assets. Their cumulative net inflows have reached $1.76 billion.
Bitwises XRP holdings have also grown. The fund held 401.42 million tokenson September 23, which is up by 14.18 millionfrom two days earlier.
Its XRP was worth about $613.89 million, according to Bitwises official fund page.
XRP price faces its next test at $1.60
XRP traded near the $1.56price level at the time of this writing, having gained about 2%during the session.
The price has recovered from its recent dip, and it remains above the levels that have supported its rebound. Buyers have also returned, and they have done this with stronger trading activity.
The next challenge now sits around the $1.60price level. It has approached this area on different occasions, but sellers have not allowed it to hold above that level.
A convincing move through the $1.60–$1.65price region would show that buyers remain in control. It could also give XRP room to extend its recovery.
For now, the $1.50price level is the nearest level to watch if the price drops. If it holds above it, this would help it to preserve the short-term momentum.
If it falls below the $1.50level, it would make the recovery less convincing and could bring the price back towards the $1.43price area.
Final Summary
- XRP ETFs attracted approximately $38 million over two trading sessions.
- XRP has recovered to $1.56 but still faces resistance between $1.60 and $1.65.