Will XRP Price Recover to $1.50 Soon as XRP ETFs Alone See Net Inflows?

Frank bevah
Frank bevah

Frank bevah

Market Analyst
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.
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Will XRP Price Recover to $1.50 Soon as XRP ETFs Alone See Net Inflows?

Highlights

  • XRP price rose by 2.82% to $1.38 as the overall crypto market bounced back.
  • XRP ETFs saw an inflow of $8.17M, while Bitcoin and Ethereum funds saw outflows.
  • Clearing $1.45 could target $1.50, while losing $1.35 may expose $1.30.

XRP price climbed 2.82% to $1.38 over 24 hours, joining a broader cryptocurrency rebound after two days of losses.

Bitcoin price rose by 2.51% to more than $83,000, while Ethereum climbed to $2,490. 

The total market capitalization of the cryptocurrency industry rose by 1.87% to $2.79 trillion, as some of the top tokens rallied. 

XRP ETFs attracted $8.17 million on Thursday.  For this to happen, XRP would need to rise by about 8.7% from its current price. 

XRP ETFs Draw $8.17M as Bitcoin and Ethereum Funds Lose Cash

XRP spot ETFs recorded $8.17 million in net inflows on October 8, while Bitcoin and Ethereum funds faced withdrawals. SoSoValue indicates that Franklin’s XRPZ was responsible for all the inflow as four other XRP funds did not experience a net movement.

Will XRP Price Recover to $1.50 Soon as XRP ETFs Alone See Net Inflows?
XRP ETF

Bitcoin spot ETFs in the U.S. shed $244 million, with Franklin’s EZBC as the sole fund to gain money. It was granted about $4.71 million, while the biggest withdrawal was made by Fidelity’s FBTC, which pulled $197 million.

Ethereum ETFs saw net outflows totaling $72.544 million, continuing their withdrawal trend for the past eight trading sessions. The data revealed XRP ETF assets of $1.56 billion and daily turnover of $65.44 million. Across the five products, the lifetime net inflows were $1.80 billion.

Will XRP Price Recover to $1.50 Soon?

The XRP Price traded at $1.38 on Friday, October 9, as its recovery stalled below nearby resistance. 

XRP price had pulled back from near $1.50 earlier this week, falling below two price levels that had been supportive trading levels. The token bounced from the $1.35 price point, but failed to get back to $1.40. 

The Relative Strength Index (RSI) was at 36, which is above the traditional “oversold” level of 30.

The MACD line was at −0.0278 where the signal line was at −0.0270 and the histogram was at −0.0008. This indicated that bear momentum was subsiding as the negative bars were shrinking but the lines were not confirming a bull market cross.

Will XRP Price Recover to $1.50 Soon as XRP ETFs Alone See Net Inflows?
Source: TradingView

The first recovery level to consider is $1.45 on the sustained break above $1.40 for four hours. That resistance would be a boost to the rebound case and open the door for a potential return to $1.50. 

On the downside, a loss of $1.35 on a consistent basis could uncover the support zone around $1.30 in mid-September.

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Frequently Asked Questions (FAQs)

1. Why are XRP ETF assets below lifetime net inflows?

Assets totaled $1.56 billion, compared with $1.80 billion in lifetime net inflows. Assets reflect current holdings’ value, which can change after investors contribute money.

2. Were XRP ETF inflows spread across all five funds?

According to SoSoValue, Franklin’s XRPZ attracted the entire $8.17 million recorded on October 8. The other four funds reported no net movement.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

XRP

XRP

$1.51896525 0.02% (24h)

24 Hours volume

$2.77B

Market Cap

$95.51B

Max Supply

100B

Buy $XRP with Binance
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About Author
About Author
Frankbevah is a senior crypto market analyst and stock Journalist with four years of industry experience. He focuses on in-depth market analysis, emerging trends, and real-time developments across cryptocurrency and equity markets.