Altcoin
XRP Continues To Outpace Bitcoin in Weekly Inflows: Key Takeaways
Despite the prevailing bearish market trends, XRP continues to outpace Bitcoin in weekly inflows. While digital asset investment products saw significant outflows in the fourth consecutive week, XRP marks remarkable gains.
XRP has surpassed not only Bitcoin but also Ethereum, signaling a shift in market sentiment. Let’s dive into the evolving market trends and explore how XRP is outpacing the top cryptocurrencies.
XRP Secures Inflows, Flips Bitcoin and Ethereum
XRP defied broader market trends, drawing significant investor interest with a notable inflow of $5.6 million. This substantial investment, as per CoinShares’ weekly data, underscores XRP’s growing appeal in the market.
Notably, digital asset investment products have witnessed a streak of significant outflows, with the current week marking the fourth consecutive week of substantial withdrawals. Over the past week, these products recorded an outflow of $876 million, taking the total net outflow to $4.75 billion.
Significantly, Bitcoin was the biggest loser in terms of weekly outflows. Bitcoin experienced significant outflows of $756 million last week. Meanwhile, short-Bitcoin investments also saw outflows of $19.8 million, indicating that investors may be nearing a state of capitulation. Ethereum followed Bitcoin with an outflow of $89.2 million. Cardano was also one of the losers with an outflow of $1.9 million.
Interestingly, Solana became the top gainer with a weekly inflow of $16.4 million. Closely following was XRP, which saw inflows of $5.6 million. Sui also gained attention with more than $2 million in weekly inflows.
What Drives XRP’s Positive Market Sentiment?
In recent weeks, XRP has garnered significant investor support, fueled by several key developments. These developments include the Securities and Exchange Commission’s (SEC) XRP ETF acknowledgements, Rpple lawsuit updates, and Donald Trump’s crypto reserve plans.
The SEC’s recognition of multiple asset managers’ XRP ETFs has invoked a positive sentiment across the community. In addition, increasing anticipations surrounding the Ripple lawsuit settlement have significantly contributed to the positive sentiment surrounding the token.
Triggered by President Donald Trump’s crypto reserve proposal that includes Bitcoin, XRP, SOL, and ADA as the country’s reserve assets, the Ripple coin gained notable attention. XRP’s significant inflows over the past week highlights its increasing investor demand and adoption.
Crypto Market Crash: How Top Cryptocurrencies Perform?
Today, the crypto market has seen a severe downturn, with top cryptocurrencies recording notable dips. Bitcoin is trading below $83k, marking a decline of 10% over the last week. Ethereum experienced a 10.61% plummet over the week, currently trading at $2,123.
Meanwhile, XRP is exchanging hands at $2.20, with a massive decrease of 17% over the last seven days. Though the Ripple coin hit a monthly high of $2.9 recently, the current crypto market crash pushed the price down.
During the period that saw key developments, XRP bucked the market trend, attracting investors even as top assets suffered massive outflows. Previously, when Bitcoin and Ethereum saw severe withdrawals of $2.59 billion and $300 million, respectively, XRP secured notable gains of $5 million.
Now, despite the downtrend, the token is showcasing remarkable investor sentiment with the 121.9% hike in the daily trading volume, at $7.69 billion. It needs to be seen if Ripple’s token will continue to attract investors on a similar pace. Traders remain keen to know how the token price will be impacted with the potential developments in the XRP ETF and Ripple lawsuit.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ethereum price seems to be in good standing as technical indicators suggest an upward move is possible. The top altcoin is currently confined within an ascending triangle pattern, which might mean a surge is forthcoming. Analysts have identified a diamond pattern forming on the chart, a reversal structure signaling upward movement ahead.
Ethereum Price Bullish Diamond Pattern Signals Breakout
A recent analysis from Mikybull Crypto highlights the formation of a bullish diamond pattern on Ethereum’s chart. This technical setup suggests that the asset is nearing a turning point, where a breakout could trigger upward momentum.
Ethereum price has been trading within a narrowing range, creating conditions that often lead to a breakout. If buyers push the price above key resistance levels, the asset may see an accelerated move higher.
Meanwhile, an earlier analysis highlighted that the altcoin price breaking below key support levels could accelerate its decline toward $1,250. The surge in Ethereum ETF outflows and heavy liquidations in the derivatives market further reinforce the bearish outlook. However, large Ethereum whales have accumulated 330,000 ETH, hinting at potential future recovery.
Resistance Levels That Could Confirm a Breakout
Moreover, Ethereum price is facing key resistance around the $3,800 level, a crucial zone that has capped price advances in recent sessions. A decisive breakout above this point could confirm the bullish diamond pattern and open the door for further gains.
The next major resistance is at $4,150, a level that aligns with historical price action. A move past this threshold would reinforce buying interest and set Ethereum on a path toward its all-time high. On the downside, failure to break above resistance could invalidate the bullish setup, leading to possible retracement toward $3,500.
More so, analyst Ali Martinez highlights that Ethereum is currently consolidating within a descending triangle, a pattern often associated with bearish continuation. If the top altcoin breaks below the lower support, a sharp decline could follow, while an upward breakout may trigger an 18% rally.
At the time of writing, Ethereum price is $2,013.62, which is 3% down in the last 24 hours. However, the altcoin trading volume increased by 162%, reaching $28,94 billion, signaling that users’ interest is still high.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A Ripple whale has moved a sizable amount of XRP between addresses, triggering speculation over the asset’s price action. The unknown whale transferred over 167 million XRP in the middle of a massive price correction but experts say a reversal is on the horizon.
Ripple Whales Are Jostling For Position Amid Market Crash
According to an X post by Whale Alert, a Ripple whale is stirring up dormant XRP tokens in the middle of a price correction. The Ripple whale has transferred over 167 million XRP worth $367 million to an unknown address in a single transaction.
The move has caught the eye of market participants as they try to rationalize the transfers. Optimists are tagging the transfer as a mere consolidation of funds in anticipation of even larger whale acquisitions. On the other hand, pessimists say the movement could signal an over-the-counter trade given the sheer volume of the transfer.
XRP price is facing significant selling pressure, losing nearly 5% over 24 hours. The asset has lost a staggering 20% in the last 7 days but daily trading volumes are up by 68.37.
Barely three days ago, whales moved 150 XRP as prices began their steep descent in anticipation of a potential correction.
Experts See Better Days Ahead For XRP Price
Despite the grim market sentiments for XRP, experts say the asset is ripe for a big rally. Crypto analyst Dark Defender disclosed that XRP can reach $333 in a repeat of its 2017 bull run.
In upbeat XRP news, weekly inflows are outpacing Bitcoin and Ethereum for the fourth straight week straight. Institutional interest in XRP is buoyed by several factors including the Crypto Strategic Reserve announcement and the SEC’s acknowledgment of ETF filings.
While prices continue to wallow under selling pressure, XRP weekly active addresses have reached a new all-time high of 1.15 million. In the short term, XRP has its sights on the $3 price point but will have to surpass resistance at the $2.70 mark.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Despite the wider crypto market decline, Movement Network’s MOVE has surged over 6% today and 14% in a week.
The bullish momentum follows the launch of Movement’s mainnet beta and fresh ETF filings from Rex Shares and Osprey Funds.
Movement Network’s Mainnet Beta Goes Live
The mainnet became operational on March 10 at 15:00 UTC, offering a key bridging mechanism powered by LayerZero. Users can now move assets like MOVE, USDT, USDC, wBTC, and wETH onto the Movement blockchain.
The launch brings over $233 million in liquidity to the network, including BTC, ETH, and MOVE, sourced through the Movement Cornucopia program. With this rollout, developers and users can interact with the network freely for the first time.
MOVE was originally developed as part of Facebook’s digital currency initiative, which was abandoned in 2022.
Since then, the programming language has been used for layer-1 projects like Sui and Aptos, while Movement Labs has extended it to create an Ethereum-based layer 2.
Rex Shares File for a MOVE ETF With SEC
On the same day as the mainnet launch, investment firms Rex Shares and Osprey Funds have filed to introduce an ETF tracking the price of MOVE.
Previously, Rex Shares has sought ETF approvals for various crypto assets, including meme tokens like TRUMP, BONK, and DOGE.
The filings come as the SEC is seemingly turning more pro-crypto and dropping securities status for many assets. Earlier, the Commission announced that it does not consider meme coins as securities.
Also, Under the new leadership, the regulator has dismissed several lawsuits and investigations involving firms like Coinbase, Kraken, Robinhood, and more. These positive developments are influencing more altcoin ETF applications.
With these positive developments, MOVE has now crossed $1.2 billion in market cap. The altcoin’s trading volume has also surged by over 40% today.
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