Despite facing resistance after touching above $1.60 yesterday and subsequently retracing over 10% from its recent high to $1.45, Ripple's XRP has shown two positive signs in its short-term price action, hinting at a potential recovery.
On one hand, the fund inflows for XRP Exchange-Traded Funds (ETFs) have seen a significant improvement. Yesterday, ETFs attracted a net inflow of $4.64 million, marking a new daily high since March 3rd. To date, the total net inflow for ETFs has stabilized above $1.2 billion.
On the other hand, large market participants, known as "whales," have also become active again. After a period of relative quietude, these wallets holding substantial amounts of XRP have initiated a new round of accumulation. Data indicates that over the past two weeks, whales have collectively purchased approximately 200 million XRP tokens, valued at nearly $300 million at current prices.
These positive factors, including strong ETF inflows, continuous buying from whales, and the overall market's recovery momentum, have collectively driven XRP's price upward. Previously, XRP had briefly surpassed BNB, reaching a monthly high of around $1.63.