XRP Price Forecast as ETF Inflows Return After $350B Asset Manager Taps XRPL for Tokenization

Ripple (XRP) price is up slightly by 0.48% today, July 30, to trade at $1.08 at the time of writing, with $1.26 billion in trading volume. The gains come as inflows to XRP ETFs return following the tokenization of the Aviva Investors USD Liquidity Fund on the XRP Ledger.

XRP ETFs Record Inflows Amid XRPL Adoption

Aviva Investors, a UK-based asset management firm that manages $350 billion in client assets, is tapping XRPL for its first tokenized fund.

As CoinGape earlier reported, Aviva plans to make a tokenized share class of its USD liquidity fund available to eligible investors who own crypto wallets.

The launch coincided with $584,000 in inflows to XRP ETFs on July 29 per data from SoSoValue. These were the first inflows posted by these ETFs since July 25.

XRP ETFs have now seen inflows for three straight weeks, suggesting that demand from institutions is rising as XRP Ledger gets more users.

The ETF inflows and the adoption of XRP Ledger by Aviva Investors also come after XRPL implemented the fixCleanup3_2_0 amendment on July 29 that could draw more institutions to the network.

XRP Price Eyes $1.09 Resistance as Rounded Bottom Emerges

The price of XRP trades within a rounded bottom pattern on the four-hour chart. This pattern often suggests that the price is undergoing a healthy recovery after the recent drop to $1.04 on July 28.

XRP needs to close above the resistance of $1.09 to complete this pattern. This move could trigger a 4.54% gain to the July 23 high of $1.14.

The MACD line that is rising despite being negative suggests that bears are losing their grip, and this could aid a move above the resistance at $1.09.

The MACD histogram bars that are green and growing in length also suggest that the downtrend is becoming weak.

However, if XRP fails to close above this resistance at $1.09, the price could drop below the psychological support of $1.05.

A recent CoinGape XRP price analysis also warned that XRP price could drop to $1.01 if the reduced odds of CLARITY Act passing drive an increase in selling pressure.

Funding Rate Signals Long Positioning

Data from Coinglass shows that the weighted funding rate on XRP has increased to 0.0089% for the first time since July 20.

This high funding rate suggests that long buyers betting that XRP price will move higher are willing to pay more to maintain their positions.

The long/short ratio for XRP has also reached 2.57 on Binance per Coinglass data, and this also suggests that long positions are two times more than short positions.

This ratio also suggests that the sentiment around XRP price is positive despite the four-hour xchart showing that it faces an obstacle at $1.09.