Despite market fluctuations and legal challenges, XRP has remained persistent due to its passionate community, strategic backing, and utility-driven foundation.
This explains why, according to Bit Guru, the fourth-largest cryptocurrency by market capitalization might be gearing up for a breakout.
The market analyst pointed out, “XRP is showing signs of recovery. The 15-minute chart reflects a potential bullish reversal with a series of higher lows forming. Volume is gradually picking up, suggesting buyers are regaining control.”
With notable resistance at $2.37, XRP will need to break this zone to sharply move toward the $2.40 range.
At the time of this writing, XRP was hovering around $2.25 per CoinGecko data.
XRP’s Institutional Interest Drops
According to Coinshares data, XRP investment products witnessed $37.2 million weekly inflows, ending an 80-week streak.
Therefore, this shows that institutional interest in XRP has cooled off, as evidenced by its current ranging market.
Nevertheless, all hope is not lost because this is the first time in 80 weeks that XRP’s institutional investments have dropped, suggesting that this might just be a pause.
Meanwhile, the XRP community is keeping its fingers crossed about a possible takeover of stablecoin giant Circle by Ripple, which would trigger an inflow of billions of dollars into this altcoin.