XRP Faces Pivotal Test as Technical Resistance Looms

Ripple's XRP is trading at $1.07 and facing a pivotal test as it approaches key technical resistance at $1.08. The cryptocurrency bounced back from recent lows of $1.04 on July 28, but broader sentiment remains cautious.

However, improving institutional participation, steady whale accumulation, and strengthening derivatives data suggest buyers are gradually regaining confidence.

Institutional interest in XRP has increased in recent sessions, with US spot XRP ETFs recording $584,000 in net inflows on Wednesday and $5.98 million in fresh inflows on Thursday, according to SoSoValue.