XRP price is rising today, March 4, as sentiment in the crypto market improves despite the ongoing retreat in global stocks. The rise comes a day after Ripple ETFs continued gaining assets and after the company expanded its Ripple Prime services.
XRP Price Jumps as ETF Inflows Rise
ETF data shows that American investors are still interested in XRP tokens despite the ongoing crypto market crash. Data shows that all XRP ETFs added over $7 million in assets on Tuesday, even as the stock and crypto markets dived.
These funds have had inflows in the last seven consecutive days, bringing the cumulative total inflows since the launch to $1.25 billion. Their net assets have jumped to over $1 billion, with Bitwise’s XRP having $269 million in assets.
XRP ETFs have had more inflows than Bitcoin and Ethereum this year. While the total of $88 million is not high, it is much better than the out two, which have suffered outflows this year.
The inflows on Monday happened after Ripple Labs announced a major milestone for Ripple Payments, a solution for moving money across both traditional and digital rails.
Its solution helps companies to manage their custody through GTreasury, enhance unified collections, and provide on-demand liquidity. The solution is being used by top companies like AMINA Bank, Corpay, and CambioReal.
The ongoing XRP price rally is notable as it is happening as other assets retreat. For example, futures linked to the Dow Jones, S&P 500, and Nasdaq 100 indices fell by over 0.50%, continuing a trend that started on Tuesday. Similarly, Asian equities tumbled, with the Nifty 50 and the Hang Seng falling by over 2%.
XRP Price Prediction: Technical Analysis
Turning to the daily chart, we see the Ripple price has been stuck in a narrow range in the past few weeks. However, a closer look shows that this price action is showing signs of bottoming.
The coin has formed a small double-bottom at $1.3363 and a neckline at $1.6700. At the same time, the MACD and the Relative Strength Index (RSI) have formed a bullish divergence pattern.
If the Ripple price can remain above the double-bottom level at $1.3363, then the coin can stage a strong comeback. The bullish outlook will be confirmed when it moves above the neckline at $1.6700. Such a move will point to more gains, potentially to more gains, potentially to $2.
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