XRP Soars 18% to Three-Month High on Strong Institutional Demand
XRP surged to a three-month high of $1.34 after seeing an 18% price increase, driven by strong institutional demand for Spot ETFs.
The inflows into these funds reached $13.24 million, boosting total assets to $1.5 billion and confirming increased market activity with trading volume jumping 125% past $8 billion.
Institutions are expanding XRP's use via blockchain credit infrastructure, enhancing its utility and supporting the rally.
However, increased selling by long-term holders could challenge this momentum, with key support at $1.30 and potential resistance at $1.50 if the rally continues.