Key Points:
Institutional demand for XRP ETPs is increasing, and the continued accumulation by large holders supports a bullish outlook for XRP prices.
XRP must close above $2.30 on the daily chart to push the price towards $3.00.
XRP (XRP) price showed indecision on June 30, dropping 0.8% in the past 24 hours, trading at $2.17.
At the time of writing, XRP price remains above $2.00, with several analysts emphasizing key resistance levels that must be broken on the path to historical highs.
According to CoinShares, institutional demand for XRP investment products is on the rise.
In the week ending June 27, inflows into XRP exchange-traded products (ETPs) reached $10.6 million, bringing the total inflow for the first half of the year to $219 million.
Other major market cap altcoins such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) saw net inflows of $2.2 billion, $429.1 million, and $5.3 million, respectively, indicating rising institutional interest in XRP.
CoinShares research director James Butterfill stated:
Additionally, the number of addresses holding between 1 million to 10 million XRP is also increasing. These addresses currently hold 9.9% of the total XRP supply, having grown by 65% since the end of November 2024.
Since then, the price of XRP has risen by approximately 350%.
Notably, even during the 35% pullback of XRP to $1.60 (from January to April), whale holdings continued to increase.
This may suggest that large holders—often seen as more patient or strategically minded investors—are steadily accumulating, anticipating further price increases.
XRP must convert the $2.60 resistance level into support to challenge new highs above $3.00.
However, first, the XRP/USD trading pair needs to close above the $2.20-$2.30 range on the daily candlestick chart. This range encompasses all major simple moving averages (SMA): the 100-day SMA at $2.20, the 50-day SMA at $2.25, and the 200-day SMA at $2.36.
Crypto analyst Dom stated on June 28 on platform X that the XRP price "has entered an extremely important breakout zone between $2.20 and $2.30."
The analyst explained that this area is where the monthly and quarterly volume-weighted average price (VWAP) of every fluctuation point over the past four months converges, and it also contains a downward trend line that has persisted for 160 days since the seven-year high of $3.40.
According to Cointelegraph, if the 50-day SMA at $2.20 is broken, it could trigger a bullish rally targeting $3.81 in July.
Meanwhile, bears will strive to hold the $2.20 resistance level to increase the likelihood of the price breaking below $2.15. The first target below is the psychological level of $2.00.
The next key focus area is between $1.95 and the range low of $1.90 reached on June 22, which occurred after the U.S. airstrikes on Iranian nuclear facilities.
Related: Bhutan Accepts Cryptocurrency Payments Despite Connectivity Gaps
Original: “Watch These XRP Key Levels as Price Meets Turning Point”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
