XRP Bullish Chart Faces Fading Demand: Key Levels to Watch
XRP holds a bullish chart pattern, but institutional ETF inflows are sharply declining. On-chain holder behavior echoes this cooling demand, setting up a critical clash. Traders eye key price levels as conflicting signals intensify.
XRP maintains a bullish cup and handle pattern, holding above $1.13 despite a recent pullback. This technical setup suggests a potential breakout, with thinning sell volume indicating a pause rather than a capitulation. The chart signals upside.
However, institutional demand for XRP ETFs is clearly cooling. Monthly inflows peaked at $131.94 million in May, then slid to $59.46 million in June, and a mere $12.43 million so far in July. This steady decline points to institutions quietly stepping back.
On-chain data reinforces this trend. The Hodler Net Position Change, tracking long-term holder activity, has turned lower since July 19, mirroring a previous price correction. Holders are trimming positions, adding pressure.
The battleground is $1.15. A decisive break above this 0.618 Fibonacci level cracks the handle, targeting $1.18 and $1.21. Failure to clear $1.15 could see XRP slide to $1.12, then $1.09. A drop below $1.05 voids the entire bullish pattern. Traders, watch these levels.