Key Insights:
- XRP gained over 5% to $1.42 as total crypto market capitalization rose above $2.4 trillion during broad risk-on sentiment.
- Spot XRP ETFs recorded $3 million in fresh inflows, lifting cumulative inflows to $1.22 billion and supporting demand recovery.
- Futures open interest climbed to $2.3 billion while technical charts show a double-bottom pattern forming near $1.34 support.
XRP rallied more than 5% on Wednesday, climbing to $1.4200 as the wider crypto market regained momentum. The token now trades nearly 30% above its lowest level this month. Its market capitalization has expanded to over $86.6 billion.
The move aligned with gains across major digital assets, including Bitcoin, Polkadot, and Avalanche. Consequently, total crypto market value rose more than 5% to surpass $2.4 trillion. Bitcoin advanced to $66,500, while Ethereum approached the $2,000 resistance zone.
Risk Assets Rebound Together
The crypto upswing developed alongside gains in traditional markets. Futures tied to the Dow Jones Industrial Average added more than 200 points. Meanwhile, Nasdaq 100 and S&P 500 futures climbed by 125 and 30 points respectively.
This synchronized rebound signaled renewed appetite for risk-driven assets. Moreover, traders responded to improving sentiment across equities and digital tokens at the same time. The alignment strengthened short-term price momentum across major cryptocurrencies.
ETF Inflows Support Demand
XRP also drew support from renewed inflows into spot XRP exchange-traded products. The funds added over $3 million in assets after two sessions without inflows. Cumulative inflows now stand above $1.22 billion, with total assets nearing $981 million.
Additionally, derivatives data reflected stronger positioning. Futures open interest rose to $2.3 billion from this week’s low of $2 billion. Spot trading volume also increased sharply, exceeding $3.1 billion during the rebound.
Technical Pattern Shapes Outlook
On the daily chart, XRP formed a doji candlestick before Wednesday’s advance. This pattern often signals potential reversal after sustained weakness. Hence, buyers stepped in as price held near recent support.
The chart also shows a double-bottom formation around $1.3435, with a neckline at $1.6617. If momentum persists, price could attempt to test that resistance level. However, analysts continue to monitor whether the rebound sustains above key moving averages in the coming sessions.
