XRP rose for the second consecutive day, extending its gains above $2.28.
XRP's digital asset products saw weekly inflows of $10.6 million, bringing total assets under management to $1.4 billion.
Market sentiment around XRP remains positive as open interest in futures contracts reaches its highest level since May 30.
Ripple (XRP) has regained its strength for two consecutive days, reflecting positive market sentiment and steady institutional demand. Monday sees a slight increase making the price of XRP swing near $2.28 at the time of writing. If risk appetite sentiment continues to rise, XRP is likely to extend its recovery above $2.33, a price action boundary level from mid-May.
XRP is showing bullish signals with steady capital inflows.
Digital asset products saw weekly inflows exceeding $1.03 billion, according to the CoinShares report published every Monday. Inflows into XRP-related financial products reached $10.6 million, accelerating year-to-date inflows to $335 million, as shown in the chart below. Total assets under management (AUM) are approximately $1.4 billion.
Digital asset inflows | Source: CoinShares
The United States (US) accounted for the largest share of total weekly capital inflows of $1 billion, with $790 million going to Bitcoin ETFs, BTC vaults, and other related financial products.
"Price gains over the week pushed total assets under management to a new record high of $188 billion. Trading volumes reached $16.3 billion, aligning with the weekly average so far this year," states the CoinShares report.
Interest in XRP spans various market sectors, including open interest in futures contracts (OI), which has increased by about 25% to $4.69 billion since its decline to $3.54 billion on June 23. This is the highest level since May 30.
Open interest in XRP futures | Source: CoinGlass
The significant increase in futures trading volume to $4.72 billion indicates heightened market activity. This, along with the rise in open interest, suggests that traders have a bullish bias and are ready to bet on future price increases.
Volume of XRP futures | Source: CoinGlass
Total liquidations of $2.52 billion were recorded in the past 24 hours, with short positions accounting for $1.52 million compared to around $997,000 liquidated from short positions.
Technical outlook: XRP shows a bullish structure.
XRP bulls are printing the second green candle on the daily chart, supported by steady interest in the token. Key technical indicators support the recovery and target a breakout above the resistance tested at $2.33 in mid-June and $2.47 on May 23.
A buy signal from the Moving Average Convergence Divergence (MACD) indicator suggests that traders should seek exposure. This signal appears when the blue MACD line crosses above the red signal line. The green bars in the histogram above the zero line reinforce the bullish momentum.
At the same time, the upward trending Relative Strength Index (RSI) at 57 indicates that the bullish trend has strength and may continue this week.
In the event of a breakout above the short-term supply zone at $2.33, the bullish range may extend beyond the hurdle at $2.47 to XRP's peak in May at around $2.65.
Daily chart for $XRP /USDT
However, a reversal in direction cannot be ruled out, especially considering that market sentiment remains volatile due to U.S. tariffs. The 90-day tariff suspension announced by President Donald Trump ends on July 9, indicating uncertainty in global markets.
With that in mind, traders should prepare for the possibility of a pullback toward the June support low at $1.90. However, the 100-day Exponential Moving Average (EMA) currently at $2.22, the 50-day EMA at $2.21, and the 200-day EMA at $2.11 can absorb potential selling pressure, thus preventing a price drop below $2.00.
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