XRP holds on to the lifeline of $1.80 after a 50% plunge! Spot ETF buys $1.2 billion madly, is it a rebirth from the ashes or a deep abyss trap?
#Xrp🔥🔥 When the price of Ripple (XRP) rebounded for the 7th time above $1.80, a short contract worth $230 million on BitMEX was grinning. Over the past 48 hours, the XRP perpetual funding rate on this exchange dropped to -0.12%, marking the most pessimistic record since the FTX collapse—shorts boldly paying interest to longs, as if $1.50 was already in the bag.
But strangely, at the same time, the fund flow dashboard for the US spot XRP ETF displayed the names of institutions like BlackRock and Fidelity flashing green with a "net inflow" warning. Since its listing on November 18, this "smart money" has devoured $1.25 billion worth of XRP against the trend, with a single-day buy of $44 million on January 8, setting a historical high.
But strangely, at the same time, the fund flow dashboard for the US spot XRP ETF displayed the names of institutions like BlackRock and Fidelity flashing green with a "net inflow" warning. Since its listing on November 18, this "smart money" has devoured $1.25 billion worth of XRP against the trend, with a single-day buy of $44 million on January 8, setting a historical high.
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XRP
1.8716
-0.34%
