XRP Gains Institutional Momentum and Whale Support While Price Remains Stagnant

Key Takeaways

• XRP’s sentiment ratio reached 2.35, marking a five-week peak, while Bitcoin and Ethereum languish in bearish zones
• Over 40 straight days of XRP ETF inflows have accumulated approximately $150 million since the start of the year
• SBI Holdings in Japan issued a $65 million XRP-denominated bond, and Aviva Investors is preparing to tokenize funds on XRP Ledger
• Despite positive signals, XRP remains stuck near $1.40, trading beneath both 50-day and 200-day moving averages with resistance at $1.51 and $1.60
• The market-wide Fear & Greed Index plunged to 9—its lowest point since FTX’s implosion—even as XRP sentiment improves

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The sentiment ratio for XRP surged to 2.35 during the current week, representing its strongest level in over a month, per analytics from Santiment.

By comparison, Bitcoin’s sentiment ratio stands at merely 1.05, while Ethereum registers 1.4. Both remain mired in neutral-to-bearish zones. XRP stands alone among major cryptocurrencies with a clear trend toward bullish sentiment.

This growing confidence stems from several tangible developments.

SBI Holdings in Japan recently introduced a $65 million blockchain-based bond that distributes returns in XRP. This marks the first retail-focused bond of this nature within a regulated jurisdiction.

XRP Price

Aviva Investors, overseeing more than $275 billion in assets, revealed intentions to tokenize investment funds using the XRP Ledger infrastructure.

Ripple’s CEO Brad Garlinghouse was also appointed to the CFTC’s Digital Asset Innovation Advisory Committee.

Three European financial institutions controlling a combined $3.4 trillion in assets integrated Ripple’s technology stack during February. Ripple has deployed nearly $3 billion in strategic acquisitions to expand its custody, brokerage, and treasury capabilities.

Strong ETF Momentum Persists Through Price Weakness

XRP exchange-traded funds recorded more than 40 straight sessions of positive inflows before a recent interruption, accumulating approximately $150 million year-to-date. During this same timeframe, Bitcoin and Ethereum products experienced net outflows.

The Bitwise XRP ETF alone absorbed $3.04 million in fresh capital on February 25, pushing its total assets under management to $255.98 million.

This institutional interest persisted even while XRP-USD hovered around $1.45 following a three-month decline of approximately 35%.

Technical Barriers Remain Intact

Despite encouraging fundamentals, XRP’s market price remains unresponsive. The token continues trading in the $1.40 vicinity, positioned below both its 50-day and 200-day moving averages.

Sellers have consistently rejected rallies at the $1.51 and $1.60 thresholds. Near-term resistance exists at $1.41 and $1.42, while support maintains around $1.38.

Should XRP fall beneath $1.38, the subsequent support zones appear near $1.34 and $1.31.

The comprehensive Fear & Greed Index tumbled to 9 this week, matching its weakest reading since the FTX debacle. Bitcoin trades near $65,000 following $3.8 billion in ETF outflows across five weeks.

Historically, XRP has demonstrated moves approximately 1.8 times larger than Bitcoin’s during risk-off environments. On February 5, Bitcoin declined 8% while XRP plummeted 15%.

The Bitwise XRP ETF’s 1-day technical indicator currently displays a Strong Sell signal, despite ongoing institutional accumulation.

XRP maintains a position above the 100-hourly Simple Moving Average, with buyers defending the $1.38 support level as of February 27.

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Source: https://blockonomi.com/xrp-gains-institutional-momentum-and-whale-support-while-price-remains-stagnant/