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- XRP ticks higher and trades near $1.54 on Friday as the broader crypto market sentiment improves.
- US-listed XRP spot ETFs recorded over $4 million in inflows on Thursday after two days of muted activity.
- Technically, major moving averages continue to rise, supporting XRP’s constructive structure and recovery potential.
Ripple (XRP) edges higher, trading around $1.54 at the time of writing on Friday as bullish pressure intensifies across the crypto market. This recovery from weekly lows of $1.47 underscores growing appetite for crypto assets and the shift in market sentiment, with focus staying on the United States Federal Reserve (US) monetary decision later this month.
Market sentiment holds firm amid returning capital inflows
Investor appetite for digital assets remains robust, as evidenced by the crypto Fear & Greed Index holding firm at 72 in Greed territory on Friday, only slightly below the previous day’s reading of 74. This persistent optimism signals a meaningful shift in market sentiment, increasing the likelihood of sustained upside momentum.
US-listed XRP spot Exchange-Traded Funds (ETFs) recorded $4 million in inflows on Thursday after muted activity on Wednesday and Tuesday. Through Thursday, weekly inflows average $8 million, according to SoSoValue, suggesting declining institutional interest. Looking back, last week’s inflows totaled $76 million. Moreover, cumulative inflows stand at $1.79 billion with net assets under management at $1.69 billion.
The immediate focus remains on the US Nonfarm Payrolls (NFP) report, due Friday. Market consensus remains that softer-than-expected inflation would reduce expectations of an October rate hike.
“A strong payrolls number would reinforce the view that economic growth remains resilient and could keep upward pressure on Treasury yields,” Crypto Finance said in an emailed market analysis report, adding, “conversely, a softer report would support the argument that disinflation is progressing without a meaningful deterioration in economic activity.”
Technical analysis: XRP reclaims key support
XRP at $1.54, extending its advance well above the main Exponential Moving Averages, which keeps the near-term bias bullish. Price holds over the 50-day EMA at $1.38 and the 200-day EMA at $1.37, while the 100-day EMA at $1.32 and the SuperTrend line at $1.28 track far below as trend support.
Momentum remains constructive, with the Relative Strength Index (RSI) around 60 suggesting sustained buying pressure, although the slightly negative Moving Average Convergence Divergence (MACD) near the zero line hints at a moderating upside swing rather than an outright reversal.
On the downside, immediate technical footing lies at the former break area of the rising support trendline near $1.40, followed by clustered dynamic demand at the 50-day EMA at $1.38 and the 200-day EMA at $1.37. Deeper pullbacks would expose the 100-day EMA at $1.32, then the SuperTrend baseline at $1.28, where a stronger medium-term floor lies.
With no clear overhead levels on the daily chart, the pair would likely need a decisive break back below the $1.40-$1.38 region to weaken the prevailing bullish structure on the daily timeframe.
On the weekly chart, XRP similarly retains a constructive bullish bias as price holds above the 50-week EMA at $1.52 and the longer-term 200-week EMA at $1.37. The SuperTrend line at $0.96 sits well below the market, reinforcing a medium-term uptrend, while the RSI at 57 leans bullish without being overbought.
The MACD indicator stands in positive territory with a reading of $0.07, suggesting that upside momentum remains in play, even as the pair approaches thicker overhead levels. On the downside, initial support emerges at the 50-week EMA near $1.52, followed by a more strategic floor at the 200-week EMA around $1.37, ahead of the broader trend support marked by the SuperTrend line close to $0.96.
On the topside, the first notable resistance is the 100-week EMA at $1.58, and a sustained break above this barrier would likely open the way for a continuation of the recent advance, keeping the overall bullish structure intact.
