XRP rose 5% over 24 hours to reach a weekly peak of $1.37, decoupling from spot XRP exchange-traded funds (ETFs) that recorded zero net inflows across recent sessions. The asset has recovered nearly 10% since plunging to a weekend low of $1.25.
Spot XRP ETFs Experience Outflows and Flatline Activity
Institutional demand through spot XRP funds has cooled significantly following a three-month period without a single week of net negative flows. Data from SoSoValue shows that spot XRP ETFs experienced $104,510 in net withdrawals on October 15, followed by another $2.47 million in net outflows on October 16. Total net weekly outflows reached $1.84 million for the week ending October 16.
Activity remained stagnant entering the new week, with SoSoValue reporting zero net inflows on both October 19 and October 20. The lack of ETF buying confirms that the recent price recovery has been driven primarily by spot market traders rather than fund creation.
Technical Signals Point to Trend Reversal Above $1.34
The price rebound aligns with earlier calls from market analysts. Analyst Ali Martinez stated over the weekend that the local bottom was established at $1.25. Following the move higher, analyst CW highlighted that XRP successfully reclaimed a critical resistance level at $1.3464, effectively shifting the short-term market structure into a bullish trend after weeks of sluggish altcoin performance.
Additionally, chartist Dark Defender indicated that XRP completed its macro Wave 2 correction phase. According to the analysis, holding above key support at $1.29 positions the token for a push toward $1.44 to $1.56, with higher macro targets extending toward $10 if resistance at $1.56 is cleared. This follows a broader period of market testing after earlier volatility pushed XRP to key moving averages.
Key Takeaways
- XRP rose 5% daily to $1.37, extending gains to 10% from its weekend low of $1.25.
- Spot XRP ETFs recorded zero net inflows on October 19 and October 20 following $1.84 million in net outflows during the week ending October 16.
- Technical analysts cite $1.29 as crucial support and $1.3464 as reclaimed resistance.
Why It Matters
The price expansion in XRP despite zero spot ETF inflows underscores a distinct divergence between institutional ETF demand and broader crypto market spot activity. While retail and derivative buyers have successfully driven the price above $1.34, sustained long-term upside will likely require institutional ETF inflows to resume positive momentum. Traders should closely monitor the $1.29 support level and upcoming ETF flow reports to gauge whether this rally can push toward the $1.44-$1.56 resistance zone.
