XRP trading activity on the Bitrue exchange has surged, with spot purchase volumes increasing by 212% and significantly outpacing sell-side activity. This rise coincides with ongoing institutional accumulation since the launch of XRP ETFs, resulting in a net inflow of $1.1 billion. Despite this growing interest, the cryptocurrency’s price action remains range-bound between key support at $0.87 and resistance at $1.67, with technical indicators suggesting cautious bearish momentum.
Bitrue reported a 212% increase in XRP spot purchase volumes, more than double the sell-side activity. The surge aligns with ongoing accumulation by institutional investors following the launch of XRP ETFs.
According to the exchange, XRP has drawn a net $1.1 billion in inflows, with weekly inflows consistently positive. Support from retail and institutional investors is strengthening, which could result in a tighter supply of the asset.
Despite increasing market interest, the short-term price action of XRP is still ranging. Analyst CasiTrades stated that the overall market plan remains unchanged as XRP has not breached significant resistance levels.
Significant support levels are $1.11 and $0.87, with the first level of resistance at $1.67. The market will continue to range until the price moves significantly beyond one of these levels.
After a peak, XRP began moving downward and could form a larger wave five downward. Short-term rallies are only corrective, and the price has difficulty breaking above the $1.50 resistance level.
If the price breaks below the current rising trend line, the next targets are around $1.10 and a larger support zone at $0.85-$0.92. Momentum indicators call for caution, with the RSI showing bearish divergence as price makes higher highs but the indicator does not follow.
