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US spot $XRP exchange-traded funds saw around $38 million in two trading sessions, showing a fresh sign of investor demand.
$XRP has also recovered to around the $1.56 price level, but it has yet to overcome selling pressure near the $1.60 price level. It must overcome this level before the latest rise it is seeing can develop into a stronger one.
Bitwise leads latest $XRP ETF inflows
$XRP ETFs saw $14.89 million in net inflows on September 24, according to SoSoValue data. This was after it saw around $23.17 million in the previous session, bringing the two-day total to just over $38 million.
Bitwise’s fund led the latest daily inflows with $9.91 million. Franklin Templeton followed with $4.98 million, while no net movement could be seen from the other listed products.
The five funds now hold a combined $1.70 billion in assets. Their cumulative net inflows have reached $1.76 billion.
Bitwise’s $XRP holdings have also grown. The fund held 401.42 million tokens on September 23, which is up by 14.18 million from two days earlier.
Its $XRP was worth about $613.89 million, according to Bitwise’s official fund page.
$XRP price faces its next test at $1.60
$XRP traded near the $1.56 price level at the time of this writing, having gained about 2% during the session.
The price has recovered from its recent dip, and it remains above the levels that have supported its rebound. Buyers have also returned, and they have done this with stronger trading activity.
The next challenge now sits around the $1.60 price level. It has approached this area on different occasions, but sellers have not allowed it to hold above that level.
A convincing move through the $1.60–$1.65 price region would show that buyers remain in control. It could also give $XRP room to extend its recovery.
For now, the $1.50 price level is the nearest level to watch if the price drops. If it holds above it, this would help it to preserve the short-term momentum.
If it falls below the $1.50 level, it would make the recovery less convincing and could bring the price back towards the $1.43 price area.
Final Summary
- $XRP ETFs attracted approximately $38 million over two trading sessions.
- $XRP has recovered to $1.56 but still faces resistance between $1.60 and $1.65.