XRP Holds Ground Above $1.04 as Binance Whale Activity Cools Down

XRP has managed to hold its ground above the critical $1.04 support level as exchange flow activity on Binance appears to have cooled down.

According to recent data, XRP was trading between $1.07 and $1.08 on July 30 and 31, with whale exchange inflows and outflows dropping sharply during this period.

The reported inflows into US spot XRP ETF products added another layer of interest, with about $585,000 of inflows on July 29 and roughly $6 million on July 30.

While these developments are seen as a positive sign for the market, it's essential to note that they don't guarantee a rally. The market still needs follow-through in spot demand, broader risk appetite, and continued institutional flows.