XRP Traders Set Mega All-Time High Target as Crypto Inflows Accelerate ⋆ ZyCrypto
By: bitcoin ethereum news|2025/05/09 21:15:04
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Digital assets are marking gains and are set to regain previous levels due to increased demand. XRP has continued its trajectory as an institutional favorite asset following speculated spot ETF approvals in the United States. Meanwhile, the wider market gained over 4% to $3.26 trillion after a massive Bitcoin price rally. Altcoins also picked up steam with strong weekly institutional inflows into their products. Will XRP Hit $3.9? Several XRP traders have called for a massive uphill run to reclaim the $3.9 price level. At press time, the asset trades at $2.32, a 3.55% gain in the last 23 hours and a 9.84% rally last week. The weekly uptick, in addition to strong green on-chain metrics, favors bullish calls this month. Expert trader Ali Martinez analyzed X’s potential price move. Several users raised the bar within the community, hinting at higher levels after tapping $3.4 in January. Since the Securities and Exchange Commission (SEC) lawsuit, this will take the asset to multi-year highs. “ XRP looks to be breaking out of an inverse head and shoulders pattern, with a potential upside target between $2.70 and $2.90.” The major factor expected to fuel this bullish course is XRP institutional demand. Last year, spot Bitcoin ETFs recorded nearly $40 billion, pushing the price to multiple all-time highs. As investors turn towards altcoin products, XRP and Solana ETFs rank high following massive investments in the last few months. Recently, ProShares revealed a possible launch of futures-based XRP ETF on April 30 pending regulatory greenlight. Furthermore, XRP whale accumulations have outpaced other altcoins in the last 14 days, showing signs of Q4 2024 inflows. XRP’s Volume Soars A new CoinShares Digital Asset Weekly flow points to a significant spike in institutional demand. Last week’s figures mark the third-largest and highest inflows since mid-December. Overall, XRP recorded $31.6 million, sustained growth from the previous week. This jumps monthly numbers above $70 million, while year-to-date inflows stand at $246 million. “We believe concerns over the tariff impact on corporate earnings and the dramatic weakening of the US dollar are the reasons investors have turned towards digital assets, which are being seen as an emerging safe haven,” CoinShares wrote. Source: https://zycrypto.com/xrp-traders-set-mega-all-time-high-target-as-crypto-inflows-accelerate/
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