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XRP XRP has stabilized in key support areas, and ETF buying and declining exchange reserves have jointly boosted market sentiment.
According to analysts Ali Charts and Crypto Patel, XRP is testing key support areas as U.S. spot XRP ETF purchases increase and exchange reserves decline. Previously, more than 4.8 billion XRPs completed trading in the price range of US$1.31 to US$1.38, making the region an important support level during this correction. At the same time, U.S. spot XRP ETF purchases exceeded $105 million last week, injecting new demand into the market.
ETF buying strengthens, XRP tests bullish flag pattern
Ali Charts pointed out that XRP is currently trading above the support range of US$1.31 to US$1.38. He recalled that more than 4.8 billion XRPs had previously been purchased within this price range and believed that the region is expected to provide effective support during the current correction period.
On the other hand, data showed that the U.S. spot XRP ETF recorded more than US$105 million in XRP purchases last week. However, Ali Charts said current ETF buying has not yet fully translated into driving prices. He also identified a "bullish flag" pattern that was forming on the XRP hourly chart. Based on his analysis, XRP is currently testing the support level for this form. If the hourly closing price stabilizes above $1.38, the breakthrough will be confirmed, and $2 will become the next target price. Therefore, the US$1.31 to US$1.38 range is currently the main focus of observation, and price behavior within this region will determine whether this technical pattern remains intact.
Binance XRP reserves fall to lows since February 2024
Crypto Patel reported another change involving XRP positions on the Binance platform. According to the analyst, Binhang's XRP reserves have been reduced from 3.1 billion to 2.6 billion, a decrease of approximately 500 million, or approximately US$675 million based on current market value.
Patel pointed out that although XRP rose nearly 30% last month, Binance's XRP reserves fell to their lowest level since February 2024. He emphasized that as XRP positions on the exchange continue to decline, this change in data deserves market attention.
These numbers add another layer of evidence to the market data cited by analysts: While ETF purchases increased, the number of XRPs held on exchanges also decreased over the same period.
Key prices for XRP remain closely watched
Ali Charts identified US$1.31 to US$1.38 as the main support range for XRP, and linked a breakthrough of US$1.38 to confirmation of the hourly bullish flag. No other support levels below this range were mentioned in the analysis. At the top, once a breakthrough is confirmed, the set target remains at $2.
At the same time, Crypto Patel focuses on the shrinking of currency security reserves. He pointed out that despite a decline in exchange reserves, XRP achieved a nearly 30% gain in the last month.
