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Mr.Arshman

06/17 16:15

XRP price tests $1.20 as ETF inflows fight short p

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$XRP price traded near $1.20 on June 17 as buyers tried to hold a narrow support zone while ETF inflows and spot demand improved. According to crypto.news market data, $XRP fell 3.29% over 24 hours, with trading volume at $1.76 billion. The token ranged between $1.20 and $1.25, while its market cap stood at about $74.45 billion. The latest pullback came after $XRP briefly pushed above $1.26 and reached as high as $1.2996, according to levels tracked by analyst EGRAG Crypto. He said the next task is to see whether $XRP can turn old resistance into new support.EGRAG wrote that holding above $1.19 keeps the “structure remains bullish,” while a move below that level could open a retest of lower support. He also said a loss of $1.14 would weaken the setup again. ETF flows remain a key support factor. $XRP products recorded a second straight week of inflows, adding $10.68 million and lifting cumulative inflows near $1.44 billion. Daily flows also improved. According to SoSoValue, $XRP products added $5.30 million on June 16, up from $2.82 million on June 15. Total net assets still slipped to $1.06 billion from $1.11 billion, showing that price weakness offset some demand. $XRP Spot ETF Net Inflow, source: SoSoValue As previously reported by crypto.news, $XRP-linked products had already outpaced Bitcoin and Ethereum funds for five straight weeks. That demand has not stopped the chart from staying weak, but it has helped keep $XRP above the deeper $1.10 area. CryptoQuant analyst Amr Taha said $XRP reclaimed $1.20 while spot cumulative volume delta rose to $267.4 million, its highest level since mid-May. He said the same metric stood near negative $177 million on April 12. The reading suggests spot buyers have returned across exchanges. That matters because spot buying reflects direct demand for $XRP, not only leveraged trading.
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