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▲ XRP
An astronomical sum of $1.29 billion poured into the XRP spot ETF, breaking an all-time high. However, the XRP price remains stuck at a strong resistance level, exhibiting the peculiar phenomenon of stagnating for 60 consecutive days.
According to crypto media outlet Cryptopotato on April 26 (local time), the XRP spot ETF recorded explosive capital inflows from its debut in November until early January, then paused due to recent geopolitical risks, but strong institutional buying re-entered in April. According to data compiled by on-chain data analysis firm SoSoValue, the cumulative net inflow into the XRP spot ETF reached $1.29 billion, setting a new all-time high.
The return of institutions is clearly evident in these figures. In April alone, $81.63 million flowed into the spot ETF, achieving its best monthly performance since December last year. The week ending April 17 recorded the largest weekly inflow in the past three months, followed by an additional $15.74 million inflow in the subsequent week. This effectively shook off the temporary outflows of March and demonstrated strong resilience.
However, the spot market's reaction remains cold. Even with an unprecedented inflow of institutional funds, the XRP price has repeatedly failed to break through the $1.46 and $1.60 resistance levels, unable to overcome downward pressure. Currently, XRP is showing a negligible movement of about 0.2% compared to last Sunday, continuing a difficult sideways trend around the $1.43 mark.
Market experts have given weight to the possibility that XRP's stagnant market will continue for some time. Analyst Crypto Tony commented, "XRP has been stuck in a boring range between $1.20 and $1.60 for over 60 days." Analyst Ali Martinez also analyzed, "Only after XRP drops to $0.90 and goes through a bottoming-out process will an explosive long-term rally begin, potentially surging to $13."
The extreme disparity between the success of the XRP spot ETF and the asset's price is raising market doubts. Despite the achievement of surpassing $1.29 billion in cumulative net inflows, the stalemate of failing to overcome technical resistance continues. Market participants are focused on whether institutional investors' buying pressure can genuinely catalyze a price increase.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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