XRP Records $145 Million Inflow, Ripple’s Coin Price to Hit $3 This Week?
Highlights
- XRP records $145.8 million in inflow in a week, reported CoinShares.
- Popular analysts are bullish on XRP price breaking above the $3 mark this year.
- A whales moved 800 million tokens from Binance, showing bullish sentiment.
XRP News: Digital asset investment products continue to record massive inflows, with $3.2 billion in inflows last week. This was the 10th consecutive inflows amid massive interest from institutional and retail investors. Notably, XRP also saw record buying of $145.8 million, an increase from $134.3 million in the previous week amid XRP price rally.
XRP News: Institutions Buy $145 Million XRP Coin
CoinShares research report on December 16 revealed that digital asset investment products saw $3.2 billion in net inflow last week. Also, the inflows this year have surpassed $44.5 billion. Bitcoin and Ethereum recorded $2 billion and $1 billion in inflows last week.
Surprisingly, XRP continues to witness high inflows amid institutional demand. The odds for XRP ETF launch in the U.S. have increased significantly due to Donald Trump’s crypto-friendly administration and SEC Chair Gary’s resignation. Bitwise, 21Shares, Canary Capital and WisdomTree have filed applications, seeking approval from the U.S. SEC.
In addition, the crypto community is positive about the end of Ripple vs SEC lawsuit after Gensler’s exit. The government agency will file its principal brief by January 15. Some believe Gensler can bring issues for Ripple similar to Binance recently. Ripple CLO Stuart Alderoty slammed Gensler for using the same failed arguments in Binance lawsuit.
Rise in Demand For Bitcoin, Ethereum, and XRP
Bitcoin and Ethereum investment products continue to see rising demand as prices rally. BTC price hit a new all-time high of nearly $106,500 today. Ethereum price also broke above $4000 level momentarily, before sliding to the $3900 level.
Other countries such as Switzerland, Germany, Canada and Australia are also witnessing a rise in inflows. As per the report, “Blockchain equities saw inflows of US$124m, the largest since January this year, driven by growing investor confidence in improving Bitcoin miner margins.”
Analysts Predicts XRP Price to $3
Popular analysts are bullish on XRP price easily breaking above the $3 mark amid recent news including upcoming RLUSD stablecoin launch by Ripple.
Popular analyst CrediBULL Crypto said “Structure on XRP here looks so freaking clean and bullish, it’s actually insane.” He predicts XRP price will easily trade above $5 in 2025. He suggests traders to avoid looking at lower timeframes, “big picture is incredibly and unequivocally bullish.”
Crypto Tony in an Elliot Wave analysis of XRP price revealed that it has rebounded from $2.91. In the weekly timeframe, the graph showed bull pressure developing again towards $3.
Meanwhile, Whale Alert reported that a whale has moved 800 million worth $1.92 billion from Binance to an unknown wallet. This confirms whales are massively bullish on Ripple’s native coin.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 800,000,000 #XRP (1,927,321,529 USD) transferred from #Binance to unknown wallethttps://t.co/fOCWqJhcru
— Whale Alert (@whale_alert) December 16, 2024
XRP price jumps 3% in the past 24 hours, with the price currently trading at $2.49. The 24-hour low and high are $2.34 and $2.57, respectively. However, the trading volume has increased by 78% in the last 24 hours, indicating a rise in interest among traders.
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
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.
