XRP recently experienced a 6% price correction, yet market sentiment suggests a deeper, more resilient narrative than the immediate charts convey. Despite the downward pressure, investors demonstrated remarkable confidence, pointing towards an underlying stability that belies surface-level volatility.
Unwavering Investor Confidence
Despite a modest 6% slip in its market value, XRP witnessed significant positive investor activity, particularly within its spot ETFs. These funds collectively attracted over $10 million in fresh inflows, contributing to a total net asset value of $861.32 million. This consistent buying trend, observed even on quieter trading days, indicates that long-term investors are seizing opportunities to accumulate, unfazed by short-term price fluctuations. It strongly suggests a conviction in XRP's future, with buyers seemingly accumulating during periods when the broader market might be looking elsewhere.
Beneath the Surface: Signs of Consolidation
While XRP's price struggled to break above the $2.10 resistance level and traded below its 20-day Exponential Moving Average, the market displayed no signs of panic. Momentum indicators, such as the Relative Strength Index (RSI) and Chaikin Money Flow (CMF), showed weak but not alarming demand and a slight positive capital flow. Crucially, Open Interest remained steady, and funding rates stayed marginally positive, reinforcing the notion that this period is more about slow consolidation than a bearish downturn. This quiet stability suggests a market preparing for its next move rather than a sustained decline.
