XRP ETF Inflows Surge Past BTC, ETH

The crypto market dipped below $3 trillion today, with XRP outperforming Bitcoin and Ethereum in ETF inflows. Ripple CEO Brad Garlinghouse celebrated this milestone as XRP's ETF saw $50 million in net inflows over the last week, compared to $30 million for Bitcoin and $20 million for Ethereum ETFs.

Price Action Details

XRP's current price stands at $0.85, marking a 24-hour increase of 3.5%, a 7-day rise of 10.2%, and a 30-day gain of 15.6%. Key support levels are at $0.78 and $0.72, with resistance at $0.92 and $1.00. Trading volume for XRP reached $1.2 billion in the last 24 hours, 20% above its 30-day average. This surge contributed to a $1.5 billion increase in XRP's market cap, now at $40 billion.

Driving Factors

The ETF inflows were the primary catalyst for XRP's price movement. On-chain data from CoinGecko shows a 40% increase in active addresses over the past week, indicating growing interest. Significant transactions included a whale moving 50 million XRP to a new wallet, likely in anticipation of further ETF developments. Additionally, Ripple's ongoing legal victories against the SEC have bolstered investor confidence.

Broader Market Context

Compared to Bitcoin and Ethereum, XRP's performance stands out, with BTC up 1.2% and ETH up 0.8% over the same period. The DeFi sector saw a slight decline in TVL, dropping to $55 billion from $57 billion last week, according to DefiLlama. The Fear & Greed Index remains at 65, indicating a neutral market sentiment. Analysts from The Block suggest that XRP's ETF success could signal a shift in investor preference towards altcoins.

Shiba Inu experienced a volume of 100 trillion SHIB traded in the last 24 hours, contributing to a price stabilization at $0.000012. Despite a bearish on-chain divergence, SHIB's market cap remains steady at $7 billion. Cardano, on the other hand, faced a 1,303% liquidation imbalance, leading to a 5% price drop to $0.45. This imbalance was driven by aggressive short selling, as reported by TradingView.