XRP Rises on Spot ETF Accumulation, Inches Near Target Price
Ripple XRP price inched up 2.02% in 24 hours to $1.53 on Friday, outperforming a flat Bitcoin and driven primarily by renewed accumulation in spot exchange-traded funds (ETFs).
According to cryptocurrency analysts, this suggests institutional demand is providing a floor after recent profit-taking. XRP had crossed $1.62 in its latest buying momentum but retreated amid an updated target price of $2.
Despite a broader market sell-off on September 24, U.S. spot XRP ETFs continued to see inflows, according to data obtained from a cryptocurrency exchange.
Traders’ updates on September 24 noted that ETF vault holdings jumped by 12.29 million in a single day, bringing the weekly net flow to +24.54 million XRP.
This steady institutional buying is absorbing selling pressure. ETF demand is acting as a concrete support mechanism, differentiating XRP’s recovery from pure market beta.
Technically, the price found support near the 38.2% Fibonacci retracement level at $1.50, aligning with the 7-day Simple Moving Average. The relative strength index at 62.04 suggests there is room for upward movement before becoming overbought.
The price structure held a critical level, allowing buyers to step in without extreme fear or greed driving the move. A daily close above the 23.6% Fib level at $1.56 would confirm bullish momentum.
The immediate path hinges on the $1.50 support. If buying pressure from ETFs continues, the next target is the $1.56–$1.60 resistance area, where previous rallies have been rejected.
The key risk is a break below $1.45, which would target the next Fibonacci support at $1.41 and could trigger another wave of long liquidations. The outlook is cautiously bullish above $1.50 but remains range-bound until a decisive break occurs.
XRP’s gain is supported by tangible ETF buying and holding technical ground, suggesting the recent correction may be cooling off.
In a dark web action that plagued the cryptocurrency economy, about $357 million in funds were stolen from Bitget, including 103 million XRP and other assets.
According to Lookonchain monitoring, the stolen funds from Bitget include: 103 million XRP (approximately $157 million), 31,890 ETH (approximately $85.75 million) and 34.75 million USDT (approximately $34.75 million).
Others are 21.05 million USDC (approximately $21.05 million), 19.67 million USD₮0 (approximately $19.67 million), 3,000 XAUt (approximately $12.82 million), 12,719 BNB (approximately $9.88 million), 821,012 AVAX (approximately $8.38 million), and 20.59 million TRX (approximately $7.07 million).
