XRP Bulls Retreat After Touching Weekly Highs

XRP hit its highest point in a week during Wednesday trading, reaching roughly $1.16 before losing momentum. This reversal suggests that traders are struggling to keep the price up, leaving many to wonder if the token will hold its ground or slide back toward the $1 support level.

Institutional interest remains a key part of the story. XRP exchange traded funds have seen over $14 million in net inflows during the last two weeks, pushing total net assets to over $1 billion. At the same time, the underlying network is showing growth in other areas. The number of real world asset holders on the XRP Ledger jumped 22 percent in the last month, while stablecoin market capitalization on the ledger rose nearly 6 percent.

Looking ahead, market participants are keeping a close eye on whale activity. Large holders have increased their positions by nearly 3 percent over the last five weeks, which could provide a safety net. However, with spot activity staying low while futures interest grows, the market remains cautious about the next move.