XRP witnessed an impressive surge of approximately 7% on Wednesday, climbing to $1.46, buoyed by reports suggesting that Iran may be open to peace negotiations with the United States. The renewed optimism surrounding geopolitical developments seemed to inspire confidence among crypto investors, as trading volume soared by 39.71% to $4.1 billion within a single day.
This rally aligns with a broader upswing in the cryptocurrency market, which saw total market capitalization reach $2.49 trillion—a 6.28% increase. Bitcoin surpassed the $73,000 mark, while Ethereum traded above $2,100, showcasing a robust resurgence across the sector.
The catalyst for this rally stemmed from a report by The New York Times, detailing that Iran’s Ministry of Intelligence had indicated, through intermediaries, a willingness to engage in discussions regarding the ongoing conflict with the U.S. This development garnered attention from investors, prompting a shift back towards risk assets and significantly lifting crypto prices across the board.
XRP ETFs Riding the Waves of Inflows
On the same day, XRP spot ETFs enjoyed fresh net inflows amounting to $7.53 million, marking a remarkable sixth consecutive day of positive inflows. Bitwise’s XRP ETF led this charge with $6.08 million in daily inflows, bringing its cumulative net inflows to an impressive $10.77 million. Following closely was Canary Capital’s XRPC ETF, which recorded $1.45 million in inflows.
Currently, total assets under management across all XRP spot ETFs stand at approximately $1 billion, with cumulative inflows reaching $1.255 billion, according to data from SoSoValue, highlighting the growing interest in XRP among institutional and retail investors alike.
On the development front, Doppler Finance announced a strategic partnership with crypto custodian Hex Trust, aiming to incorporate wrapped XRP into its institutional blockchain platform as part of a new rewards mechanism. Additionally, Ripple has confirmed recent acquisitions including Palisade, known for custody and treasury automation solutions, and Rail, which specializes in virtual accounts and collections services.
Key Technical Levels and Market Sentiment
XRP is currently trading below key exponential moving averages for the 50-day, 100-day, and 200-day periods, signaling a prevailing bearish trend. Despite this, positive indicators are surfacing, with the Relative Strength Index (RSI) nearing 66 on the 4-hour chart, suggesting an uptick in buying pressure, while the Moving Average Convergence Divergence (MACD) has recently registered a bullish crossover.
However, the futures open interest for XRP has dropped to $2.11 billion—its lowest level since January 2025—signaling potential caution among traders. A pivotal resistance level is situated between $1.50 and $1.54, while strong support is found near $1.40. A significant breach above $1.50 could pave the way for additional gains towards $1.60, but failing to hold at $1.45 may see prices revisit the $1.40 support zone.
As of Wednesday afternoon, XRP was trading at approximately $1.41, still reflecting a steep decline of around 62% from its all-time high of $3.65. The fluctuating dynamics in both market sentiment and the underlying technical framework suggest that XRP investors should keep a close eye on evolving trends.
