XRP Surges Past $2.12 Amidst Low Exchange Supply and Strong ETF Inflows
- XRP rose by 2.04% to reach $2.12, breaking through a resistance level of $2.10–$2.12.
- Trading volume was up by 47.6% compared to the weekly average, indicating strong market participation.
- U.S.-listed spot XRP ETFs saw an influx of $13.59 million in new investments this week.
- The market capitalization of XRP increased to approximately $121.7 billion during this trading session.
- Daily transaction counts on the XRP Ledger approached the one million mark, indicating growing network activity.
The recent price increase is attributed to low exchange balances, which traders interpret as a signal of supply tightness, combined with steady institutional demand for regulated exposure through ETFs.
As XRP holds above the critical support level of $2.128, it positions itself for potential further gains towards the next resistance at $2.15–$2.16, supported by significant trading volume and ETF inflows.(Source)
