Net inflows to XRP exchange-traded funds (ETFs) have been positive for 11 days in a row at a point when cryptos are bouncing back strongly. This favors a bullish XRP price prediction as institutional appetite seems to be rising.
According to SoSo Value, the assets under management (AUM) held in these funds have surged to $844 million in just a couple of weeks, following the launch of multiple ETFs by Bitwise, Canary Capital, and Grayscale.
On December 1, these vehicles attracted $89 million even though the market was experiencing a strong decline.
In the past 24 hours, XRP has surged by 7% to $2.17 as the crypto market seems ready to make a comeback. Trading volumes have increased by 20% to nearly $5 billion, currently accounting for 4% of the token’s circulating market cap.
XRP Price Prediction: 48% Gain Ahead If XRP Reverses Its Downtrend
The daily chart shows that XRP is about to hit the upper bound of a descending price channel that has been forming since early October.
If the price breaks out of this setup and climbs above its 200-day exponential moving average (EMA), this would justify a bullish XRP price prediction.
Source: TradingViewThe first target if that happens would be the $3.1 level, meaning a 48% upside potential based on where the price is trading today.
The Relative Strength Index (RSI) has been forming a bullish divergence, as momentum has not made a lower low, even though the price has kept dropping.
If positive ETF inflows continue, or accelerate, over the next few days, that should create a strong floor for XRP, and could result in an explosive move if bears are squeezed out of their positions.
Meanwhile, as the market recovers, the best crypto presales of this year, like Bitcoin Hyper ($HYPER), could outperform well-established tokens like XRP.
Bitcoin Hyper ($HYPER) Will Pave the Way for a New Era of Bitcoin Applications
BTC holders and developers have been restrained by the network’s slow speed and high transaction costs for years.
Bitcoin Hyper ($HYPER) is here to change that by introducing the first real layer-2 chain for the top crypto using Solana’s technology.
Through the Hyper Bridge, investors will be able to maintain their assets in a designated Bitcoin wallet and receive the corresponding amount on the Hyper L2 to access a suite of DeFi applications, payment platforms, and even launchpads for meme coins.
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Analysts believe that as wallets and exchanges adopt Bitcoin Hyper, the demand for its native asset, $HYPER, is expected to increase rapidly.
To buy $HYPER while it is still available at its presale price, simply head to the official Bitcoin Hyper website and link up a compatible wallet like Best Wallet.
You can either swap USDT or SOL for this token or use a bank card to
Visit the Official Bitcoin Hyper Website HereThe post XRP Price Prediction: Institutions Are Pouring In Cash Through ETFs – A Violent Move Up is Next appeared first on Cryptonews.
