XRP Funds' Weakest Month Since April Sparks Bearish Breakout Warning
The seven U.S.-listed spot XRP funds pulled in $8.15 million between July 20 and July 24, but the token's price remains near $1.11.
This week's inflows were all concentrated across two trading days, with Bitwise contributing $2.49 million on July 20 and Franklin Templeton's XRPZ fund following with $5.66 million the next session.
Despite these significant inflows, analysts see this as a last gasp of institutional demand rather than a surge, especially when compared to previous months. In May and June, the same funds took in $131.94 million and $59.46 million respectively.
XRP has slipped below its 50-day exponential moving average and its RSI has fallen under the neutral 50 mark, leading analyst Crispus Nyaga to predict a bearish breakout with $1 as the next level of consequence below.