XRP Spot ETF Sees 17 Consecutive Days of Inflows, When Will it Break Through the $1.45 Resistance Level?

▲ XRP ETF/ChatGPT Generated Image ©

As massive funds from institutional investors pour into spot funds and large whales continue their fierce accumulation, XRP (Ripple) is accumulating enormous upward energy, poised to break through the key resistance level of $1.45.

According to the investment media outlet TradingNews on April 27 (local time), amid pressure on the virtual asset market due to geopolitical tensions in the Middle East, Volatility Shares' XRP spot ETF, XRPI, closed down at $7.82, and Rex-Osprey's XRPR closed down at $11.38. The underlying asset, XRP, is also stuck at the $1.45 mark, hindered by a substantial 60% of break-even selling pressure, continuing a stagnant sideways trend around $1.41.

Despite the price weakness, institutional buying remains at record levels. The XRP spot ETF ecosystem attracted $81.63 million in April alone, setting an unprecedented record of 17 consecutive days of net inflows, with total assets under management surpassing $1.29 billion. In particular, Bitwise absorbed $39.59 million in April alone, surpassing Canary Capital, which had an early market lead, to become the top fund by AUM, proving that market leadership has completely shifted from retail to institutional investors.

On-chain data is emitting even stronger bullish signals. Large whales have quietly accumulated an average of 11 million XRP daily over the past month, and exchange reserves have plummeted to a seven-year low, indicating a rapid drying up of circulating supply. Furthermore, the technical indicator, the Moving Average Convergence Divergence (MACD) index, has formed a bullish crossover for the first time since the January surge, suggesting an imminent rally.

The market's attention is focused on major positive catalysts that could trigger a price explosion. The industry is strongly urging the swift Senate committee processing of the U.S. cryptocurrency market structure bill, the Clarity Act, which would open the floodgates for institutional capital. Furthermore, the upcoming introduction of Coinbase's institutional futures settlement tool on May 1st, coupled with Ripple's regular release of 1 billion locked-up tokens, is expected to act as a positive catalyst, lowering entry barriers for institutions rather than causing a supply shock.

Experts view the current situation, where massive institutional funds are vacuuming up millions of dollars worth of XRP from the market daily, as encouraging. The media emphasized that if the $1.45 resistance level is overcome and regulatory uncertainties are resolved, a long-term bull market could unfold, with XRPI potentially soaring to $11.00-$15.00. Therefore, rather than reacting to short-term price fluctuations, patient investment that aligns with institutional accumulation trends is required.

*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.*