Ripple Price Forecast: XRP accelerates gains amid heavy whale accumulation and ETF inflows
- XRP bulls maintain firm control of market momentum, eyeing to reinforce a near-term breakout above the $1.60 level.
- XRP’s bullish outlook holds steady, with wallets with between 100 million and 1 billion coins increasing risk exposure.
- XRP reclaims the 50-week EMA as an immediate support level, while the MACD continues to reinforce a buy signal.
Ripple (XRP) ticks higher on Wednesday and trades near $1.60, aligning with the broader crypto market’s bullish outlook. The token builds on a strong technical outlook, reinforced by uptrending moving averages and key momentum indicators.
A daily close above $1.60 would reinforce the bullish momentum, while a pullback below the same level may trigger profit-taking. Traders should also watch the broader crypto market, as XRP will likely trend in unison with major crypto assets.
XRP whale accumulation gains traction
Appetite for crypto assets remains strong, as reflected in the Fear & Greed Index, holding at 71 in the Greed territory on Wednesday, down slightly from 78 the day before. As more investors take on risk, demand for XRP helps cushion against rising exchange inflows and potential profit-taking.
Large-volume holders with between 100 million and 1 billion tokens have since late July increased their XRP uptake and now account for roughly 14% of the total supply, up from 12% on September 1 and nearly 11% on August 1.
The whale cohort holding between 10 million and 100 million tokens shows steady but gradual XRP accumulation, now accounting for 18% of the total supply, according to Santiment. Further accumulation could support XRP’s short-term bullish outlook, increasing the odds of a sustained $1.60 breakout toward highs above $2.00.
The remittance token, XRP, posted a notable jump in spot Exchange-Traded Funds (ETFs) inflows to $20 million on Tuesday, following muted activity the day before and $44,000 in outflows last Friday. Cumulative inflows edged higher to $1.73 billion, with net assets averaging $1.73 billion.
Technical analysis: XRP edges higher as bulls hold firm
XRP holds a firm bullish bias as price extends well above the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), with the long-term 200-day EMA at $1.36 reinforcing the underlying uptrend. Momentum stays constructive, with the Relative Strength Index (RSI) hovering near 68 in a near-overbought zone and the Moving Average Convergence Divergence (MACD) line in positive territory, hinting that buyers still control the near-term direction, albeit with rising risk of a pause or shallow correction.
On the downside, initial support emerges near the recent breakout region, with the 200-day EMA at $1.36 acting as a key dynamic floor. Below that area, additional demand lies around the 50-day EMA at $1.33 and the SuperTrend support line at $1.34, while the 100-day EMA at $1.28 marks a deeper, medium-term support zone that would need to hold to preserve the broader bullish structure.
Moreover, XRP holds above the 50-week and 200-week EMAs at $1.52 and $1.37, respectively, as well as above the former downtrend resistance line now offering support near $1.52.
Immediate resistance lies at the 100-week EMA at $1.59, and a weekly close above this barrier would open the way for a deeper push higher in the coming sessions. On the downside, initial support lies at the recent break level of the descending trendline around $1.52, followed by the 50-week EMA at $1.52 and then the more distant 200-week EMA at $1.37, where a stronger demand zone is likely to emerge if a broader pullback develops.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs
An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
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