XRP traded near $1.53 on Friday as continued inflows into US spot exchange-traded funds (ETFs) supported the token, though this week’s failed breakout left downside risks in play.
ETF inflows provide support for XRP
Over the last 24 hours, XRP gained about 2.3% and moved up roughly 17% in the past week, according to CoinGecko. Despite the recent gains, the cryptocurrency stayed below the $1.60 to $1.65 range, which had rejected Wednesday’s rally and marked a key resistance area for bulls.
US spot XRP ETFs attracted a total of $18.04 million on September 23, bringing cumulative net inflows to approximately $1.75 billion. Bitwise led the recent rise with $11.54 million, followed by Franklin Templeton, which contributed $6.50 million across its products in this category.
| ETF Sponsor | Latest Inflow | Total Category Inflow |
|---|---|---|
| Bitwise | $11.54 million | Included in $1.75 billion |
| Franklin Templeton | $6.50 million | Included in $1.75 billion |
| All US XRP ETFs | $18.04 million | $1.75 billion* |
*Cumulative figure as of September 23
Bitwise is a financial services firm specializing in cryptocurrency investment products, particularly index funds and ETFs. Franklin Templeton, a global investment management company, is known for providing a wide range of mutual fund and ETF products.
Bitwise research analyst Ryan Rasmussen noted significant interest in XRP among traditional finance representatives. Following a presentation attended by about 400 wealth managers, Rasmussen shared that XRP was “the most asked about throughout the presentation,” highlighting growing attention from institutional channels.
XRP continues to generate substantial interest from wealth managers, suggesting that demand for regulated crypto investment products is expanding beyond the usual crypto-focused investors.
A poll conducted among attendees found 60% expected to allocate funds to crypto within the next year, although this does not ensure immediate capital flows into XRP or other digital assets. Despite ongoing ETF inflows, daily amounts remain relatively small compared with XRP’s broader spot market, which continues to experience periods of heightened volatility.
Technical outlook: Key supports and risks
The latest rally saw XRP briefly test the $1.60–$1.65 band before reversing sharply toward $1.48, reinforcing resistance at those levels. Analysts have shifted attention from bullish targets to assessing near-term downside risks.
Alejandro Arrieche, an analyst at FXEmpire, warned on September 23 that selling pressure had grown after XRP crossed $1.50. Arrieche suggested the possibility of a correction toward $1.43 after the strong rally, though he maintained a positive long-term outlook.
A retreat to around $1.43 remains plausible after such a rapid rally, but longer-term prospects for XRP remain bullish if critical supports hold.
The first significant support zone is set between $1.40 and $1.43. Below that, analyst Ali Martinez has identified the $1.31–$1.35 area as crucial for maintaining the token’s bullish structure. Martinez stated that a clear move above resistance could renew the push toward $1.60, but a drop below those support levels would likely shift the outlook.
Critical level: Why the $1.35 support matters
The more bearish case hinges on developments below key support points. Analyst Yashu Gola has outlined a potential double-top pattern in the $1.55–$1.60 region, with a neckline near $1.285. A sustained daily close below $1.285, in Gola’s view, would strengthen the bearish scenario and potentially expose XRP to further losses toward the $1 area.
For now, XRP trades comfortably above this neckline, with multiple moving averages clustered between $1.28 and $1.40, offering additional technical support. A move back above $1.60–$1.65 could shift the narrative, undermining arguments for a double top.
If buyers defend the $1.40–$1.43 zone, Friday’s rebound may help XRP consolidate in a healthier pattern. However, any breakdown below that range could trigger a rapid shift in focus to the $1.35 and $1.28–$1.31 areas as new lines of defense.
As ETF inflows continue, XRP’s near-term direction is likely to depend on how it manages these key support and resistance zones in the coming days.
