XRP Price Looks Broken—but Investors Are Quietly Doing the Opposite
Despite bearish technical patterns, XRP saw significant positive fund inflows while major cryptos experienced outflows.Summary
The XRP price is technically constrained within a bearish descending parallel channel, suggesting a potential downward trend if support at $1.77 fails, which could lead to $1.50.
However, investor sentiment, as reflected in fund flows, contrasts with the technical outlook. Last week, XRP garnered $70.2 million in positive fund flows, following $62.9 million the week prior, bucking the trend where leading assets like Bitcoin ($443 million outflow) and Ethereum ($59.3 million outflow) saw significant redemptions. CoinShares attributes this positive sentiment in XRP and Solana to their mid-October US ETF launches, which have seen substantial cumulative inflows.
Technically, the RSI indicator remains below 50, favoring sellers, and bounces have failed to break the upper boundary of the descending channel. A true trend shift would require the RSI to break above 50 alongside a confirmed upside breakout from the channel, suggesting buyers should wait for a successful retest above the upper trendline before considering rallies as more than just relief bounces.
(Source：BeInCrypto)