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▲ XRP
An astronomical $1.29 billion poured into XRP spot ETFs, setting a new all-time high. However, the XRP price remains stuck, repeatedly treading water for 60 days, blocked by strong resistance, a peculiar phenomenon.
According to crypto media outlet Cryptopotato on April 26 (local time), XRP spot ETFs saw an explosive influx of funds from their debut in November until early January, then paused due to recent geopolitical risks, but strong institutional buying re-entered in April. According to data compiled by on-chain data analytics firm SoSoValue, the cumulative net inflow into XRP spot ETFs reached $1.29 billion, breaking previous records.
The return of institutions is clearly evident in these figures. In April alone, $81.63 million flowed into spot ETFs, achieving the best monthly performance since December last year. The week ending April 17 recorded the largest weekly inflow in the past three months, with an additional $15.74 million flowing in the subsequent week. This effectively wiped out the temporary outflows of March and demonstrated strong resilience.
However, the spot market's reaction remains cold. Even with a record influx of institutional funds, the XRP price repeatedly fails to break through the $1.46 and $1.60 resistance levels, unable to overcome downward pressure. Currently, XRP is showing a negligible movement of about 0.2% compared to last Sunday, continuing its difficult sideways trend around the $1.43 mark.
Market experts have weighted the possibility that XRP's dull market will continue for some time. Analyst Crypto Tony stated, "XRP has been stuck in a boring range between $1.20 and $1.60 for over 60 days." Analyst Ali Martinez also analyzed that "only after XRP drops to $0.90 and goes through a bottoming process will an explosive long-term rally begin, soaring to $13."
The extreme discrepancy between the success of XRP spot ETFs and the asset's price is raising market doubts. Despite the achievement of surpassing $1.29 billion in cumulative net inflows, the stalemate of failing to overcome technical resistance continues. Market participants are focusing on whether institutional investors' buying pressure can act as a catalyst to genuinely boost the price.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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