A well known analyst suggests XRP is now at a decisive moment that could shape its next major move.
Spot exchange traded funds tracking XRP lost momentum in March but rebounded strongly in April, recording their best performance since December. Despite this renewed investor interest, the token itself has struggled to deliver meaningful price gains, even though it ended April slightly positive.
XRP ETFs Recover After March Setback
XRP focused ETFs saw remarkable early success following their launch, quickly attracting significant capital. The first 1 billion dollars in inflows came within about a month of the debut of Canary Capital’s XPC product in November, with consistent daily inflows dominating the initial phase.
However, rising global uncertainty dampened investor enthusiasm. Net inflows dropped sharply from 500 million dollars in December to just 15.6 million dollars in January. February showed some improvement with 58 million dollars added, but March marked a turning point as ETFs recorded over 31 million dollars in net outflows, their first negative month. Data from SoSoValue also indicated several days with no measurable activity.
April brought a recovery, ending with 81.59 million dollars in net inflows. While this figure falls short of the highs seen in November and December, it still represents the strongest monthly performance since then.
On a broader scale, cumulative inflows reached a new all time high of 1.3 billion dollars on April 29 before experiencing a slight pullback the following day.
XRP Price Struggles to Keep Up
Despite improving ETF inflows, XRP’s price has declined significantly since these products were introduced. The token traded above 2.40 dollars at launch but is now struggling to remain above 1.40 dollars.
According to analyst BATMAN, XRP is currently at a critical level that could determine its next major trend. The asset continues to test an important trendline, and a breakdown below it could trigger a sharper decline. On the other hand, holding above this level could support a renewed upward move.
Another analyst, CW, described XRP’s recent price action as uneventful but pointed out that bullish pressure is building in the futures market. They suggested that once this quiet phase ends, it could lead to a significant breakout.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
