XRP Rebounds on Stabilization Bounce from Support and Ongoing Institutional Demand
XRP has seen a notable rebound in recent hours, with its price increasing by 3.40% over the past eight hours.
This recovery is largely attributed to a stabilization bounce from support after a leveraged long wipeout, which occurred when XRP's price first sold off sharply and then partially recovered over the past 24 hours.
The market cap of XRP briefly reclaimed $100 billion this week, with U.S. spot XRP ETFs seeing persistent net inflows of around $1.7 billion, led by Bitwise's fund. Additionally, on-chain analytics show that whale transactions and new wallets being created are contributing to the ongoing structural demand for XRP.
The broader crypto market is also experiencing a mildly risk-on environment, with total market cap up about 1% over the past 24 hours, and altcoins excluding Bitcoin seeing similar gains. However, there is no evidence of a discrete XRP-specific catalyst in the last eight hours.