XRP Forms 'Bottom' Signal from ETF and Ledger Indicators... If It Breaks 'Here', Path to $2.1 Opens

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XRP is increasing the possibility of a bottom rebound, driven by ETF fund inflows and improved XRP Ledger indicators, even within a narrow 5-month price range.

According to financial media Benzinga on May 30 (local time), XRP continued its gradual recovery trend that began last Thursday, rising for three consecutive trading days after touching a critical support level. Benzinga reported that third-party data shows signs of XRP accumulation by smart money investors, raising the possibility of a rebound after five months of price stagnation.

According to SosoValue data, XRP spot ETFs diverged significantly from the flows of Bitcoin (BTC) and Ethereum (ETH) spot ETFs. XRP spot ETFs added over $11.8 million in assets on Friday alone, expanding the weekly increase to $15.2 million. Total inflows for May reached $131 million, marking the best monthly performance since its launch last year.

In contrast, Bitcoin spot ETFs and Ethereum spot ETFs suffered from outflows. Bitcoin spot ETFs saw $2.43 billion withdrawn in May, marking their worst monthly performance this year, while Ethereum funds recorded a $540 million loss in May, showing the weakest trend since December last year.

Improvements in XRP Ledger indicators were also cited as a factor supporting buying momentum. According to Messari, real-world assets on the XRP Ledger increased by 124% in Q1 to $2.25 billion, and the average daily transaction count grew by 35% to 2.48 million. RWA.xyz data also showed that the declared value of the XRP Ledger increased by 10% over the past 30 days to $3.58 billion, and stablecoin transfer volume surged by 94% to $4.6 billion during the same period.

In terms of technical trends, the $1.2740 support level was mentioned as a key criterion. Benzinga analyzed that XRP has remained in a narrow range between $1.2740 and $1.5486 since February, and that ETF accumulation and reaching the key support level could signal a bottom formation. If the rebound continues, it could rise by about 15% to the top of the channel, and if it surpasses that level, $2.10 was presented as the next psychological benchmark. However, Benzinga stated that if XRP falls below $1.2740, the bullish outlook would be invalidated.

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