Cryptocurrency expert X Finance Bull highlighted how to do this institutions are hoarding XRP in the face of the cryptocurrency market crash. His comment comes in the context of the price of XRP falling below the psychological level of $1.6, which further sparked bearish sentiment among retail investors.
Institutions continue to accumulate shares amid the XRP price crash
In Post XX Finance Bull noted that while retail investors are panicking over the XRP price collapse, institutional investors continue to flock to the Ripple-related token. The crypto expert pointed to inflows into XRP ETFswhile Bitcoin and Ethereum ETFs continue to see outflows. Based on this, he concluded that a rotation is starting and institutional investors are switching from BTC and ETH to XRP.
SoSoValue data show that on January 30, Bitcoin and Ethereum ETFs saw outflows of $1.61 billion and $353 million, respectively. Meanwhile, XRP ETFs saw net inflows of $15.6 million. X Finance Bull noted that these inflows may be compact at the moment, but this direction matters. He further noted that institutions are not chasing hype choppy markets but rather a position on the fundamentals.
The cryptocurrency expert also noted that there are inflows into XRP ETFs, while Bitcoin and Ethereum ETFs they bleed, they are not random. He highlighted the fundamentals that are bullish for the XRP price despite the current market crash. This includes the token’s cross-border payments tool, which he noted solves a “trillion-dollar problem.” He added that regulatory clarity is coming and that the infrastructure is already in place.
X Finance Bull expects the XRP price to be among the first to rebound when the market rebounds, noting that capital is flowing into utilities. He added that intelligent money is already leading this change. The cryptocurrency expert also believes that those investing in XRP now are still in the early stages, considering XRP ETFs just recorded $1.18 billion accumulated revenues in three months.
There are currently two potential paths for Altcoin
Cryptocurrency analyst Egrag Crypto highlighted two paths of the XRP price after it falls below USD 1.60. He stated that the first path is a double liquidity grab, in which a relief reflection happens from that point on, followed by a second spike in liquidity and then expansion. The attached chart showed that the second liquidity spike may occur around $1.3.
Meanwhile, the second XRP price path is a direct expansion that coincides with the fractal of the cycle. Egrag Crypto stated that if the story rhymes, the altcoin could see a 340% augment, similar to the 2021 bull cycle, or a larger 1,600% augment, similar to 2017. bull cycle. A 340% augment and a 1,600% augment would bring XRP to $7 and $27, respectively.
At the time of writing, XRP is trading around $1.54, down more than 7% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Freepik, chart from Tradingview.com