XRP Rises 5% Amid Strong ETF Inflows and Market Developments
XRP Surges 5% As ETF Inflows Hit $17M: What's Going On?
Benzinga
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XRP, the cryptocurrency, surged 5% on April 15 following $17.11 million in net inflows into spot exchange-traded funds (ETFs), marking the highest single-day figure in nearly two months. The positive momentum is bolstered by Ripple's partnership with Kyobo Life Insurance and potential integration hints from Solana.
- 01XRP's price increased by 5% on April 15, with a 7.5% rise over the past week.
- 02Spot ETFs recorded $17.11 million in net inflows, the highest in almost two months.
- 03Bitwise's XRP ETF led the inflows with $6.23 million on April 15.
- 04Ripple's partnership with Kyobo Life Insurance is contributing to bullish sentiment.
- 05Solana hints at a potential integration of XRP into its network.
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XRP (CRYPTO: XRP) experienced a 5% increase on April 15, driven by significant net inflows of $17.11 million into spot exchange-traded funds (ETFs), marking the highest single-day figure in nearly two months. This surge began on April 14, when inflows reached $11.20 million, creating the strongest two-day performance since January. Total net assets for these ETFs have surpassed $1.02 billion, with cumulative inflows now totaling $1.25 billion. Leading the inflows on April 15 was Bitwise's XRP ETF with $6.23 million, followed by 21Shares at $5.43 million and Franklin Templeton at $5.30 million. The positive market sentiment is further fueled by Ripple's recent partnership with Kyobo Life Insurance and the acquisition of Bitwise XRP ETF holdings by MassMutual. Additionally, XRP's price has broken through a descending triangle pattern, challenging the 50 Exponential Moving Average (EMA) at $1.4064, a level it hasn't closed above since early February. The next significant resistance levels to watch are the 100 EMA at $1.5499 and a major horizontal resistance zone at $1.80. Meanwhile, Solana's co-founder hinted at a potential integration of XRP into its network, indicating plans for a wrapped version of the token, although adoption has been limited.
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