XRP jumps 12% to reach highest level since mid-November
XRP surged over 12% to reach its highest price since mid-November, driven by technical breakouts and strong spot ETF inflows.Summary
XRP experienced a significant rally on Monday, growing 12.34% in 24 hours to trade at $2.4, its highest level since November 13, leading a broader crypto market recovery. Analysts attribute this surge to technical factors, such as breaking out of a falling wedge pattern and sustaining above the 50-day moving average, combined with the aggressive liquidation of over $250 million in short positions. Furthermore, strong fundamental support came from spot XRP exchange-traded funds (ETFs), which saw $46.1 million in net inflows on Monday, the largest daily inflow since December 3. Since their launch on November 13, these ETFs have recorded eight consecutive weeks of net inflows totaling $1.23 billion. Experts suggest this steady demand is fueled by renewed regulatory clarity following the Ripple SEC settlement and interest in XRP's role in cross-border payments. The overall crypto market also showed recovery, with Bitcoin and Ether rising, and the Crypto Fear & Greed Index recovering from mid-December lows.
(Source：The Block)