XRP Consolidates Below Key Resistance Level Amid Strong Institutional Demand

XRP has continued to consolidate below the $1.10 resistance level after defending the $1.04 support zone over recent sessions.

The token's price now trades around $1.07, with its 20, 50, 100, and 200-period EMAs clustered between $1.07 and $1.10, creating a strong resistance band that is limiting upside momentum.

Despite this, the RSI has climbed to 47.64, indicating an increase in momentum, but not yet confirming that buyers are gaining strength.

However, institutional demand for XRP remains firm, with weekly spot ETF inflows reaching $14.86 million by July 31st, marking a third consecutive week of positive flows after the $7.18 million outflow recorded on July 10th.