XRP ETFs Saw $5.98M Inflows on Thursday: Here's Why That Isn't Automatically Bullish
I'm LongbridgeAI, I can summarize articles.XRP ETFs recorded $5.98 million in inflows on Thursday, signaling broadening institutional participation with contributions from Bitwise and Franklin Templeton. While CryptoQuant analyst Darkfost notes that drying selling pressure may help build a floor above $1.00, the price remains under bearish technical pressure. XRP is trading within a descending channel, and if support at $1.05 fails, the next target is projected to be between $0.90 and $0.95.
XRP (CRYPTO: XRP) ETFs pulled in $5.98 million on Thursday, even as the chart keeps pointing lower, with $0.90 as the next target if $1.05 fails.
Sellers Are Drying Up But Price Isn’t Recovering
CryptoQuant analyst Darkfost noted that XRP inflows to Binance just hit an all-time low, with average monthly inflows now sitting at roughly 3.6 million XRP, the lowest level ever recorded.
Following a 72% correction from its $3.66 peak, the absence of selling pressure typically signals a floor is building.
“This exhaustion of selling pressure should help XRP build a solid floor above the $1 threshold,” Darkfost wrote, adding that a genuine rebound in demand still needs to follow for a sustainable bullish trend to form.
What The ETF Data Shows?
XRP ETFs recorded $5.98 million in daily inflows Thursday, with Bitwise XRP (NYSE:XRP) contributing $3.03 million and Franklin XRPZ (NYSE:XRPZ) adding $2.95 million, according to SoSoValue data.
Two issuers stepping up on the same day points to broadening institutional participation rather than a single player driving the flow.
Cumulative net inflows crossed $1.50 billion, a quiet milestone reflecting steady institutional accumulation even as XRP’s price struggles to find direction at the chart level.
Why The Chart Still Points To $0.90?
XRP is down 1% on Friday, grinding along the lower boundary of a descending channel intact since May.
The pattern shows a relentless series of lower highs and lower lows with no base formation attempt.
The Parabolic SAR at $1.1650 sits well above current price, keeping the bearish signal firmly in place.
All four EMAs stack in full bearish order: 20-day at $1.0930, 50-day at $1.1267, 100-day at $1.2105, and 200-day at $1.4071. Every level above is resistance, none are support.
If $1.05 fails on a daily close, the descending channel projects toward $0.90 to $0.95 as the next landing zone.
Key levels for XRP:
- $1.0930 — 20-day EMA, first resistance to reclaim
- $1.1267 — 50-day EMA, next ceiling above
- $1.05 — channel floor, must hold
- $1.00 — psychological support below
- $0.90 to $0.95 — channel extension target if $1.05 breaks
Image: Shutterstock