XRP Price Defies $30 Million Institutional Blow; Here’s What’s Keeping It Up?
Despite a $30 million outflow from institutional investors, XRP's price is being supported by continued accumulation from its native crypto investor base.Summary
XRP has experienced a period of sideways trading, constrained by resistance and support levels. Recent data reveals a $30 million outflow from institutional investors during the week ending March 6th, making XRP the only top altcoin to see outflows. This has reduced year-to-date inflows to $123 million, falling behind Solana, and coincides with $22 million in ETF outflows, indicating growing skepticism. However, on-chain data shows a positive trend: native XRP investors are accumulating, moving assets from exchanges to self-custody, which reduces sell-side pressure and stabilizes the price. Currently trading at $1.37, XRP needs to hold above the $1.31 support level (the 23.6% Fibonacci retracement) to maintain its recovery trajectory. A breakout above $1.43 could lead to further gains towards $1.53, signaling renewed bullish momentum and diminishing institutional skepticism.
(Source：BeInCrypto)