XRP Price Target $3 as Spot ETFs Continue to See Inflows

XRP Price remains above the $2 mark after a slight recovery, continuing to hover near its support level. 

Within the last 24 hours, XRP price rose by 2% to $2.04 as the cryptocurrency market recovered following a 9% drop in a month. Bitcoin price also experienced a significant rise, hitting over 92k following a 3% growth.

Ether also saw an increase, hovering over $3,200 in a bullish trend. Other large altcoins have done the same with a bullish recovery in the market, such as Solana, Cardano, Chainlink, and Dogecoin.

XRP Spot ETFs Achieve a Streak of 19 Consecutive Days of Inflows

XRP Spot ETFs have been in an impressive streak with 19 consecutive days of inflows. On December 11, the fund experienced another good day as the total net inflow of the fund standing at an impressive $16.42 million per day.

According to the cumulative amount of net inflow, it is now at the level of $970.75 million, which indicates the increasing investor confidence in XRP. As these inflows are sustained, the trend does not indicate any slowdown, which supports the market position of XRP.

This flow of capital into the XRP Spot ETFs underscores the growing popularity of the funds among investors seeking to be exposed to XRP via a regulated fund. 

How long this streak persists is interesting, and what it promises to the future of XRP in the larger cryptocurrency world remains to be seen.

Hex Trust Launches Wrapped XRP on Solana

Wrapped XRP (wXRP), fully backed by native XRP, is being launched by Hex Trust with LayerZero technology. The purpose of this step is to increase the usefulness of XRP both in decentralized finance (DeFi) and interchain services.

The first release will take place on Solana, and other blockchains should be implemented. The offering is regarded as a major move in the direction of institutional expansion of the use of XRP in the DeFi realm.

XRP Price Surge Eyes $3 Resistance

The XRP price surged to $2.04 recently, marking a positive movement after a period of consolidation. 

The XRP price had been moving within a tight range over a period of time, with the support level at about $2.00.

The technical indicators of the chart indicate a possible increase in the price to the $3.00 level; a major breakout may take place. 

The bullish run in the XRP price may be sustained, presently up 46%, as long as the resistance points of $2.50 and $2.80 are maintained.

The recent spike of XRP is a continuation of a trend of rising purchase behavior, as a positive MACD signal reflects the emergence of rising bullish momentum. However, a failure to maintain the current levels could see the price retreating back towards the support zone of $2.00.