XRP ETF Inflows Extend Winning Streak Amid Bullish Technical Setup

XRP's price may be down over the past 12 months, but its spot exchange-traded funds (ETFs) are seeing an 11-week streak of net inflows. According to SoSoValue data, these ETFs recorded $75.59 million in net inflows last week, a significant increase from the previous week's flow.

This accumulation has boosted XRP's bullish technical setup, attracting attention from veteran trader Peter Brandt. He shared a long-term chart on Saturday, saying that investors don't need to be committed supporters of the cryptocurrency to consider owning it.

Brandt emphasized that 'the charts alone have always been enough reason for us to make a bet.' Analyst Ali Martinez also pointed out an inverse head-and-shoulders pattern forming on XRP's daily chart, suggesting a bullish breakout could be getting closer. However, Brandt did not provide a price target or explicitly predict a breakout.

Whales accumulated more than 470 million tokens over five days, worth about $724 million, according to Martinez. This surge in buying has contributed to XRP's 14% gain over the past two weeks.