XRP price climbed 2.82% to $1.38 over 24 hours on Thursday, October 8, joining a broader cryptocurrency market rebound following two days of losses. Bitcoin rose 2.51% to above $83,000, while Ethereum reached $2,490. The total cryptocurrency market capitalization increased 1.87% to $2.79 trillion.
XRP spot ETFs recorded $8.17 million in net inflows on October 8, with Franklin's XRPZ accounting for all inflows as the other four XRP funds experienced no net movement. XRP ETF assets totaled $1.56 billion with daily turnover of $65.44 million, while lifetime net inflows across five products reached $1.80 billion.
The strength in XRP ETFs contrasted with weakness in other major cryptocurrency funds. U.S. spot Bitcoin ETFs shed $244 million in net outflows, with only Franklin's EZBC gaining $4.71 million while Fidelity's FBTC experienced the largest withdrawal at $197 million. Spot Ethereum ETFs saw net outflows of $72.544 million, marking their eighth consecutive day of withdrawals.
XRP price traded at $1.38 on Friday, October 9, with recovery stalled below nearby resistance levels. The token had pulled back from near $1.50 earlier in the week and fell below supportive trading levels before bouncing from $1.35. The Relative Strength Index stood at 36, above the traditional oversold level of 30.
Technical analysis indicated weakening bear momentum. The MACD line was at −0.0278 with the signal line at −0.0270 and histogram at −0.0008, showing negative bars shrinking though lines had not confirmed a bullish cross. The first potential recovery level is $1.45 on a sustained break above $1.40. Support on the downside sits around $1.30.
