This filing analyzes XRP's recent 20% price correction, highlighting a critical support zone between $1.31 and $1.38, which, if held, could lead to a rebound towards $2. It also notes consistent inflows into U.S. spot XRP ETFs, suggesting underlying institutional demand despite the price dip. The analysis provides technical levels and institutional holdings, indicating potential for continued upward movement if key resistance levels are cleared.
XRP has experienced a 20% pullback from its August high, but an analyst suggests that a critical support zone between $1.31 and $1.38 could prevent further declines and set the stage for a rebound towards $2. This is significant for XRP holders and potential investors, as it outlines key technical levels to watch. The continued net inflows into U.S. spot XRP ETFs, even during the pullback, indicate sustained institutional interest, which could provide a long-term tailwind. Short-term, the price action around the $1.31-$1.38 support and the $1.38 resistance for a bullish flag breakout are crucial. The key opportunity for traders lies in monitoring these technical levels for a potential entry or confirmation of a bullish trend continuation.