XRP News Today: XRP Price Drops 0.8% Amid Institutional Demand Surge

XRP price displayed indecision on June 30, down 0.8% over the last 24 hours to trade at $2.17. XRP price remains above $2.00 at the time of writing, as several analysts highlight the key resistance levels that must be broken on the path toward new all-time highs.

Institutional demand for XRP investment products is increasing. XRP exchange-traded products (ETPs) posted inflows of $10.6 million in the week ending June 27, bringing their inflows for the first half of the year to $219 million. Other top-cap altcoins such as Bitcoin (BTC), Ether (ETH), and Solana (SOL) recorded net inflows of $2.2 billion, $429.1 million, and $5.3 million, respectively, indicating increased institutional appetite for XRP. The head of research said that this resilient investor demand has been driven by a combination of factors, primarily heightened geopolitical volatility and uncertainty surrounding the direction of monetary policy.

Additionally, the supply held by entities with a 1 million-10 million token balance is also rising. These addresses now own 9.9% of the total XRP supply, a 65% increase since late November 2024. XRP’s price has rallied by approximately 350% since then. Interestingly, XRP’s whale holding rose even during its 35% price pullback to $1.60 between January and April. This may suggest that larger holders, often viewed as more patient or strategic investors, are steadily accumulating positions in anticipation of further gains.

XRP must flip the $2.60 resistance level into support to target higher highs above $3.00. But first, the XRP/USD pair must close above the $2.20-$2.30 range on the daily-candle chart. This is where all the major simple moving averages (SMAs) sit: the 100-day SMA at $2.20, the 50-day SMA at $2.25, and the 200-day SMA at $2.36. XRP price has “reached a very important breakout zone between $2.20 and $2.30,” said a pseudonymous crypto analyst. The analyst explained that this zone was the convergence of the monthly and quarterly volume-weighted average prices (VWAPs) from every swing point over the last four months, along with the 160-day downtrend spanning back to the seven-year high of $3.40. “All this confluence tells us one thing: this is a big area for bulls to regain that may very well be looked back at as the turning point of a new bullish trend.”

Breaking above the 50-day SMA at $2.20 could trigger a rally toward $3.81 by July. Meanwhile, the bears will attempt to keep the $2.20 resistance in place to increase the likelihood of pulling the price below $2.15. The immediate target below this is the psychological level at $2.00. The next key area of interest below that remains between $1.95 and the range low at $1.90, reached on June 22 following US airstrikes on Iran’s nuclear sites.