XRP Price Sees Bullish Reversal Signs Amid Institutional Interest
XRP's price has been under bearish pressure, but analysts are watching for a potential accumulation zone before a broader recovery. Strive Financial Group's exposure to XRP-linked ETFs highlights growing institutional interest and could strengthen the cryptocurrency's long-term adoption narrative.
According to CoinMarketCap, at the time of writing, XRP is trading at $0.99 with a 24-hour trading volume of $855 million and a market capitalization of $62.68 billion. Despite signs of stability over the last 24 hours, the XRP price structure and ETF growth point to a bullish reversal ahead.
Crypto analyst Crypto Patel sees the $0.85-$0.65 range as an opportunity for a macro accumulation point, but notes that he does not see a reversal taking place until at least a further decline of 20%-40%. The analyst prefers to accumulate gradually in the vicinity of a higher time frame's demand rather than trying to pinpoint the bottom.
The long-term goals for the XRP price include $3, $5, $7, and even $10. Strive Financial Group has exposed its position on XRP-related exchange-traded funds via an updated 13F filing, which disclosed its holdings in the Teucrium 2x Long Daily XRP ETF and the XRP ETF offered by Canary.