XRP spot ETFs experienced a significant $5.15 million outflow, the largest since early September, despite maintaining a weekly net inflow streak. Concurrently, XRP exchange reserves have fallen to a seven-year low, and its two-week RSI has hit a 13-year low, suggesting potential oversold conditions but also a fragile support level.
The filing highlights a $5.15 million outflow from XRP spot ETFs, the largest since September 2nd, with XRPC and TOXR being the primary contributors. This outflow, while significant, occurs amidst a backdrop of XRP exchange reserves hitting a seven-year low, which typically suggests tightening supply and could be bullish long-term. However, the two-week RSI for XRP has also reached a 13-year low, indicating extreme oversold conditions but also a potential sentiment floor. Traders face a short-term risk if the long-term ascending support line breaks, but a potential long-term opportunity if the support holds and the oversold conditions lead to a rebound, especially with Ripple's stablecoin (RLUSD) gaining traction.