XRP price news: Ripple-linked token zooms 6% as bitcoin (BTC) nears $67,000
XRP surged 6% to around $1.42, driven by strong spot buying and institutional ETF accumulation, as Bitcoin approached $67,000.Summary
The XRP token experienced a significant rally, jumping approximately 6% to about $1.42, coinciding with Bitcoin nearing the $67,000 mark. This upward movement was supported by strong spot demand, with one exchange, Bitrue, reporting a 212% increase in retail purchase volumes between February 23rd and 24th, where buying outpaced selling by more than two-to-one. Furthermore, institutional interest appears robust, as XRP exchange-traded funds have accumulated about $1.1 billion in net assets since mid-November, showing consistent inflows even while Bitcoin ETFs have seen year-to-date outflows, suggesting a potential capital rotation within crypto holdings. Technically, the break above the $1.37 resistance triggered a volume surge, and traders are now watching if the $1.40–$1.42 area can hold as support; maintaining this level is crucial to test the next resistance near $1.45, while a drop below $1.37 risks invalidating the breakout.
(Source：CoinDesk)