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XRP jumps 6% as exchange data points to institutional accumulation

AI Summary4 min read

TL;DR

XRP surged 6% to $1.42 as spot buying significantly outpaced selling, with retail purchase volumes up 212% on one exchange. New XRP ETFs have accumulated $1.1 billion in net assets since November, suggesting institutional accumulation and potential capital rotation from bitcoin ETFs.

Key Takeaways

  • •XRP price rose 6% to $1.42 with spot buying volumes dramatically exceeding selling, indicating strong retail and institutional interest
  • •XRP exchange-traded funds have attracted $1.1 billion in net assets since mid-November, showing steady institutional accumulation
  • •Technical analysis suggests traders are watching the $1.40-$1.42 support zone, with resistance near $1.45 being the next key test
  • •The move coincides with broader crypto market recovery, with bitcoin rebounding above $67,000 and major altcoins gaining around 10%
  • •A drop below $1.37 would risk a failed breakout and return to the prior trading range, while breaking above $1.45 could open path to $1.50-$1.57

Tags

XRPcryptocurrencyETFtechnical analysismarket analysis
XRP symbol on top of dollar bills. (Unsplash/CoinDesk)

What to know:

  • XRP rose about 6% to roughly $1.42 as spot buying sharply outpaced selling, with one exchange reporting retail purchase volumes up 212% between Feb. 23 and 24.
  • New XRP exchange-traded funds have accumulated about $1.1 billion in net assets since mid-November, drawing steady inflows even as bitcoin ETFs are down for the year, suggesting a rotation within crypto holdings.
  • Traders are watching whether XRP can hold the $1.40–$1.42 area as support and break above resistance near $1.45, with a drop below $1.37 risking a failed breakout and return to the prior trading range.
  • XRP rose about 6% to roughly $1.42 as spot buying sharply outpaced selling, with one exchange reporting retail purchase volumes up 212% between Feb. 23 and 24.
  • New XRP exchange-traded funds have accumulated about $1.1 billion in net assets since mid-November, drawing steady inflows even as bitcoin ETFs are down for the year, suggesting a rotation within crypto holdings.
  • Traders are watching whether XRP can hold the $1.40–$1.42 area as support and break above resistance near $1.45, with a drop below $1.37 risking a failed breakout and return to the prior trading range.

XRP rallied 6% as bitcoin neared the $67,000 mark in U.S. morning hours Wednesday, with data from one exchange showing spot buyers outpaced sellers by more than 200%.

News Background

  • Long-time XRP supporter and exchange Bitrue told CoinDesk that it observed a sharp surge in XRP spot activity between Feb. 23–24, with retail purchase volumes rising 212% and outpacing sell orders by more than two-to-one.
  • The spike coincides with what some traders describe as a quiet accumulation phase following recent volatility.
  • Institutional positioning also appears constructive. Since launching in mid-November, XRP exchange-traded funds have attracted roughly $1.1 billion in net assets, posting positive weekly inflows with only limited outflow days.
  • That stands in contrast to bitcoin ETFs, which are down on a year-to-date basis, suggesting potential capital rotation within crypto allocations rather than broad-based exit.
  • Spot traders also realized nearly $1.93 billion in losses during mid-February’s drawdown, Bitrue said, a shakeout that historically has preceded stronger recoveries once speculative leverage clears.

Price Action Summary

  • XRP climbed from $1.34 to $1.42, gaining roughly 6%
  • Break above $1.37 triggered a volume surge to 259M, more than double the daily average
  • Price consolidated near $1.42 after testing $1.43

Technical Analysis

  • The decisive move came with the sustained break above $1.37 resistance. Volume expansion confirmed participation beyond thin liquidity conditions, with price forming higher lows throughout the session.
  • Near-term structure remains constructive while XRP holds above $1.40. However, overhead supply near $1.45 remains a key test.
  • Failure to maintain current levels would shift focus back to the $1.37 breakout zone as first support.

What traders say is next?

  • Traders are watching whether the $1.40–$1.42 zone can hold as a new base. A push above $1.45 would open room toward $1.50 and potentially $1.57.
  • If momentum fades and XRP slips back below $1.37, the breakout risks turning into a false move, reopening the prior consolidation range.
  • For now, elevated volume combined with spot-heavy buying suggests positioning is improving — but confirmation depends on follow-through above resistance.
  • Bitcoin rebounded more than 5% to about $67,500, triggering a broad crypto relief rally. Major altcoins such ETH, SOL, DOGE, ADA and LINK bounced around 10%.
  • The surge followed weeks of extreme bearish sentiment and crowded short positions, with over $307 million in leveraged bearish bets liquidated over the past 24 hours.
  • Crypto-related stocks rallied alongside digital assets, while a positive Coinbase Premium Index and the strongest U.S. spot bitcoin ETF inflows since early February signaled a tentative return of U.S. buyers and risk appetite.

Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.

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