Price Increases 110bps as Ripple’s XRP Attracts Capital
Ripple (XRP) price is up 110 basis points (bps), or 1.10%, in 24 hours to $1.41 on Monday, slightly outperforming the broader market, which rose 1.21%, driven by a beta-driven recovery alongside other major altcoins.
Broader market tailwinds as XRP moved in lockstep with a recovering crypto market, with Bitcoin holding above $84,000 and capital rotating into altcoins.
A crypto market report revealed that Bitcoin spot ETFs recorded $681 million in net outflows during October 5–9, ending three consecutive weeks of inflows.
Ethereum spot ETFs lost $542 million, marking their second straight week of outflows. SOL and HYPE spot ETFs registered net outflows of $24.81 million and $9.43 million, respectively, while XRP bucked the trend with net inflows of $11.31 million.
XRP spot ETFs recorded approximately $11.31 million in net inflows, making it the only asset among the five categories to finish the week in positive territory.
Inflows were concentrated on two trading days: approximately $3.14 million on October 6 and $8.17 million on October 8.
Net flows were unchanged during the remaining three sessions. By Friday, XRP ETF asset under management (AUM) stood at approximately $1.57 billion, while XRP traded around $1.38.
Traders said XRP’s positive flows indicate that some investors are maintaining targeted crypto allocations despite broader selling pressure.
However, with subscriptions concentrated in only two sessions and total inflows well below those recorded during earlier periods of strong demand, new capital remains highly selective.
On Monday, XRP trading volume spiked 75% in 24 hours to about $1.5 billion on Monday. XRP’s gain closely mirrored a 1.21% rise in the total crypto market cap, as Bitcoin held above $84,000 despite significant spot ETF outflows last week.
This suggests the move was driven by broader market sentiment and a rotation into altcoins, evidenced by a 6.45% jump in the Altcoin Season Index to 66.
Buying interest was supported by investors’ expectations as a Ripple-backed company holding 473 million XRP began public trading, creating a new conduit for institutional investment.
The price action was less about XRP-specific news and more a function of general crypto market flows, indicating it remains highly correlated to overall risk appetite.
Bitcoin’s ability to hold the $82,000–$84,000 support zone, which is critical for sustaining altcoin momentum.
Two supportive developments provided a backdrop for the move: The Nasdaq listing of Evernorth, a corporate XRP treasury, which began trading on October 12.
While not the direct catalyst for the 24h bounce, these factors reinforce a narrative of growing institutional access and steady demand, which may limit downside volatility.
Traders are tracking post-listing trading volume and sentiment around Evernorth (XRPN) as a proxy for traditional market interest in XRP exposure.
The immediate technical picture shows XRP trading between support at $1.39 and resistance at $1.43–$1.45. The 14-period RSI at 45.42 indicates neutral momentum.
The key near-term catalyst is the U.S. September CPI report scheduled for October 14, which will influence broader macro sentiment.
The path of least resistance is a test of higher resistance, but the move lacks strong independent momentum and remains dependent on Bitcoin’s stability and the upcoming inflation data.
A daily close above $1.45 would signal a stronger bullish shift, or a break below $1.37 would open a path toward the 200-day moving average at $1.28.
The 24h gain was primarily a beta play, amplified by positive ecosystem developments and sector rotation. For the rally to sustain, XRP needs to conquer nearby technical resistance. USD.AI – CHIP Sees 26% Price Surge on Single Tweet
