Key points:
-
Increased institutional demand for XRP ETP and continued whale accumulation with XRP prices as bullish cases.
-
XRP must close $2.30 on the daily chart to ensure push to $3.
xrp(XRP) Prices hesitated on June 30, down 0.8% in the past 24 hours, trading at $2.17.
XRP prices are still above $2.00 at the time of writing, as several analysts highlight key levels of resistance that must be broken on the road to new all-time highs.
Investors increase their risk to XRP investment products
Institutional demand based on XRP investment products is increasing coin.
Related: XRP price turns green for the last time
XRP Exchange Trading Products (ETPS) had inflows of $10.6 million in the week ending June 27, increasing their inflows to $219 million in the first half of the year.
Other top alternatives, such as Bitcoin (BTC), ether (ethereth) and solana (sol) The net inflows recorded were $2.2 billion, $429.1 million and $5.3 million, indicating increased institutional demand for XRP.
James Butterfill, head of research at Coinshares, said:
“We believe that this resilient investor demand is driven by a combination of factors, which mainly raises geopolitical volatility and uncertainty around monetary policy directions.”
In addition, the supply held by entities with a balance of 10 million tokens is also rising. These addresses now have 9.9% of the total XRP supply, an increase of 65% since late November 2024.
Price of XRP assembly Since then, about 350%.
Interestingly, the whale of XRP holds even rises during its period 35% price correction to $1.60 Between January and April.
This may indicate that larger holders are often seen as more patient or strategic investors who are steadily accumulating positions in the hope of further gains.
XRP key price levels to watch
XRP must flip the resistance level of $2.60 to support higher highs above $3.00.
But first, XRP/USD pair Must be closed on the $2.20-$2.30 range On the daily chart. Here is where all the major simple moving averages (SMAs) are: the 100-day SMA sells for $2.20, the 50-day SMA is $2.25, and the 200-day SMA is $2.36.
XRP price “has reached a very important breakthrough zone between $2.20 and $2.30” explain In a post on X on June 28.
Analysts explained that the region is the convergence of the monthly and quarterly volume-weighted average price (VWAP) for each swing over the past four months, and a 160-day downward trend, spanning back to Seven-year highs of $3.40.
“All of these confluences tell us one thing: This is a big area the Bulls regained and it’s likely to look back at the turning point of the new bullish trend.”
As a Cointelegraph Reporta 50-day SMA at $2.20 may trigger a rally between July and $3.81.
Meanwhile, the Bears will try to maintain a $2.20 resistance to increase the likelihood of raising the price below $2.15. The direct target below this is a psychological level of $2.00.
The next key critical area hits a range of between $1.95 and $1.90 on June 22 below $1.90 Follow the US on air strikes in Iran’s nuclear site.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
