Ripple (XRP) was trading at $1.39 as of 9:49 a.m. Korean time on the 10th, according to CoinMarketCap. As the cryptocurrency market rebounded, ending a two-day decline, attention is focusing on the possibility of further gains as capital flows into XRP spot exchange-traded funds (ETFs).

XRP ETF Alone Sees $8.17 Million Net Inflow

According to data from SoSoValue cited by overseas crypto outlet Coingape, XRP spot ETFs saw a total net inflow of $8.17 million on October 8 (local time). The inflow came entirely from Franklin's XRPZ, while the other four XRP ETFs recorded neither net inflows nor net outflows.

In contrast, U.S. bitcoin spot ETFs saw a total net outflow of $244 million on the same day. Fidelity's FBTC alone lost $197 million, and only Franklin's EZBC recorded a net inflow of about $4.71 million. Ethereum spot ETFs also saw a net outflow of $72.544 million, marking the eighth consecutive trading day of outflows.

In terms of scale, XRP ETFs' total assets were tallied at $1.56 billion with a daily trading volume of $65.44 million. The cumulative net inflow into the five XRP ETFs stands at $1.8 billion.

Technical Indicators: "No Clear Reversal Signal Yet"

According to Coingape, XRP fell from around $1.50 early this week and rebounded at $1.35, but failed to recover $1.40. Technical indicators have not shown a clear bullish reversal signal either. The relative strength index (RSI) stood at 36, above the oversold threshold of 30, while the moving average convergence divergence (MACD) recorded -0.0278.

Coingape analyzed that while downward pressure is easing as the negative bars on the MACD histogram shrink, no signals have yet emerged to confirm a bullish reversal.

Key Factor Ahead: Whether XRP Breaks $1.40

The key factor for the price trajectory is expected to be whether XRP breaks above $1.40. Coingape analyzed that if XRP breaks $1.40 and holds above that level for four hours, it could rebound to $1.45. It further projected that if the $1.45 resistance is breached, XRP could attempt a re-entry to $1.50.

Conversely, Coingape explained that if XRP fails to consistently hold $1.35, it could fall to around $1.30, the level formed in mid-September (local time).

[This article is by no means investment advice. The content may only reflect opinions, so please do not use it as a reference or data for investment. All investments are made at each individual's own judgment, and the final responsibility lies with the investor. This publication assumes no responsibility whatsoever.]