XRP was trading near $1.53 on Friday, supported by continued inflows into US spot ETFs, yet the latest rebound has not erased the downside risk stemming from this week's failed breakout attempt. The token gained about 2.3% over the past 24 hours and roughly 17% over the last seven days, according to CoinGecko, but it remains below the $1.60–$1.65 resistance zone that rejected Wednesday's rally.
US spot XRP ETFs attracted another $18.04 million on September 23, lifting cumulative net inflows to approximately $1.75 billion. Bitwise led the day with $11.54 million, while Franklin Templeton added $6.50 million. This sustained demand suggests that regulated products continue to draw capital even amid XRP's price volatility.
Interest appears to extend beyond crypto-native traders. Bitwise research analyst Ryan Rasmussen noted that after a presentation to roughly 400 wealth managers, XRP was "the most asked about throughout the presentation," adding that there was "a lot of interest." An informal poll at the event found that 60% of attendees expected to allocate to crypto within a year, though stated intentions do not guarantee future flows.
For XRP bulls, ETFs provide a new source of demand, but they should be viewed as a cushion rather than a guaranteed floor. Daily inflows remain small relative to XRP's broader spot market, where selling can easily overwhelm fund purchases.
The near-term risk is technical, as XRP pushed into the $1.60–$1.65 region this week before reversing sharply towards $1.48. That failed breakout has shifted attention back to support rather than upside targets. FXEmpire analyst Alejandro Arrieche had already warned on September 23 that selling pressure was increasing after XRP moved above $1.50. "We could expect a retreat to $1.43 or so after such a strong rally," Arrieche wrote, while still maintaining a longer-term bullish view.
That makes roughly $1.40–$1.43 the first area to watch if XRP weakens again. Below that sits a more important support cluster. Analyst Ali Martinez previously identified $1.31–$1.35 as critical for preserving XRP's bullish structure, noting that a decisive break above resistance could open the path to $1.60.
The more bearish scenario remains conditional, not confirmed. Analyst Yashu Gola identified a potential double-top pattern around $1.55–$1.60, with a neckline near $1.285. He said a decisive daily close below that level could confirm the structure and expose XRP to a measured move towards $1. For now, XRP remains well above that neckline, as Gola also noted that several moving averages sit between roughly $1.28 and $1.40, creating a dense support cluster before the more severe downside scenario becomes relevant.
A move back above $1.60–$1.65 would weaken the double-top argument substantially. That makes $1.35 important partly because of what lies beneath it. If buyers defend the $1.40–$1.43 region, Friday's recovery can still develop into a healthier consolidation. If that area breaks, traders are likely to focus quickly on $1.35 and then the $1.28–$1.31 zone.
This article is for informational purposes only and does not constitute financial advice.
