$XRP Price Holds Steady as Crypto Market Gains Momentum
The XRP price has remained steady on Tuesday morning as the broader cryptocurrency market continues to gain momentum. $XRP is trading at $1.5120, well above its year-to-date low of $0.9885.
The rally in XRP could extend further due to strong ETF inflows and growing adoption of Ripple USD ($RLUSD), which has crossed the $2 billion milestone. The amount of $RLUSD in XRPL has moved closer to the $1 billion milestone, while the number of daily users has continued rising.
The Crypto Fear and Greed Index has jumped to 83, its highest level in months, indicating a sense of greed in the market. Historically, crypto prices rally when there is a sense of greed, but bear markets also happen when greed levels rise.
$XRP ETF inflows are soaring, with over $13.8 million flowing into spot $XRP ETFs on Monday, following over $18 million in inflows on Friday. Since their launch, spot $XRP ETFs have recorded more than $1.57 billion in cumulative net inflows and now hold around $1.44 billion in assets.
The ongoing XRP rally has led to higher crypto prices, with Ethereum hitting the resistance level of $2,500, and Bitcoin jumping to over $80,000. The market capitalization of all coins jumped to over $2.7 trillion.