XRP (CRYPTO: XRP) price has remained on edge this month, even as American investors resumed their purchases. Ripple’s token was trading at $1.0930 on Saturday, inside a range where it has been this month. It has slipped by 40% this year and 68% in the last 12 months.
XRP ETF Inflows are Rising
Americans have resumed buying XRP ETFs even as risk-off sentiment spreads across the broader market. Data shows that these funds added over $6.78 million in assets this week, reversing a $7.18 million outflow the week before.
Cumulative inflows for the month now stand above $4.2 million, marking the fourth consecutive month of net inflows. These funds have had cumulative inflows of over $1.4 billion and now hold $991 million in assets.
Other crypto ETFs have continued adding assets. Spot Bitcoin (CRYPTO: BTC) ETFs added $75 million in assets, while Ethereum (CRYPTO: ETH) funds added $105 million.
These inflows are happening even as a risk-off sentiment remains as evidenced by the volatility in the stock market. Key US indices dropped on Friday, with the S&P 500 and Nasdaq 100 indices falling by over 1%. The VIX Index jumped by 12%.
XRP ETF inflows rose in a week that Ripple Labs joined the x402 Foundation as a Premier Member. Joining this organization is important as the organization aims to become a major player in the agentic payments industry.
Still, XRP faces some major challenges, which likely explains why the token has remained under pressure. For example, XRP’s futures open interest has continued falling, reaching $2.4 billion, down from last year’s high of over $10.5 billion. Similarly, the Ripple USD (RLUSD) market cap has dropped to $1.53 billion from the year-to-date high of $1.8 billion.
XRP Price Chart Shows Bears Still in Control
Technicals suggest that the Ripple price remains under intense pressure this month. It remains below the crucial support of $1.2898, its highest point on June 15.
The token has also slumped below the 50-day Exponential Moving Average. It has also moved below the Supertrend indicator.
As such, there is a risk that the coin will remain under pressure in the near term. If this happens, it may drop to the year-to-date low of $1.00. A move below that level will point to more downside in the near term. However, a surge above the 50-day and 100-day moving averages will point to a reversal.
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