Spot XRP exchange-traded funds recorded significant inflows on Friday, marking a multi-month high after weeks of subdued activity. The underlying XRP token saw a minor weekly price increase, now trading near a key resistance level of $1.35, as analysts debate the potential for a more substantial breakout.
Spot XRP ETFs saw a substantial uptick in inflows on Friday, reaching a multi-month high. This followed weeks of diminishing activity that included multiple days with zero reportable data.
The single-day inflow was $9.09 million, the highest since February 6. The week concluded with net inflows totaling $11.75 million, according to data from SoSoValue.
These figures remain far below the peaks from last November and December. During that initial period, the funds attracted well over $1 billion in net inflows.
The underlying XRP asset marked a 2.5% increase over the past week. It successfully defended support levels and now sits close to the $1.35 resistance.
Analyst CRYPTOWZRD stated that a bounce from the $1.32 support aligned with a potential bigger break against BTC. This alignment could trigger a more substantial rally.
Another analyst, Crypto Tony, discussed XRP’s performance on social media. He believes the token needs to reclaim the $1.39 level to reverse its short-term trend, “Reclaim $1.39 and we are good to go for a long and advance to higher targets.”
