The price of XRP jumped more than 11% despite institutional investors pulling $76.1 million out of Ripple’s investment products last week, up 151% from the previous week.
At the time of writing, XRP is currently at $1.5819, up 0.02% since it opened early Tuesday in Asian trading.
This is interesting because institutional outflows typically signal a lack of market confidence, but XRP continues to rally.
The outflows are believed to be due to global uncertainty and institutional investors seeking safer assets, while Bitcoin attracted $793 million in inflows.
Many institutions have also sold holdings to take profits.
Despite this, assets under management by XRP ETFs still exceed $2.4 billion, on par with Solana, and the year’s investment is showing a positive trend.
The price surge was driven by retail investors absorbing selling pressure and increased activity on the XRP Ledger network, with daily transactions reaching 3.9 million in March.
A key support level is identified at $1.44, and buying momentum continues as prices break through this level.
Regulatory developments such as the Clarity Act have the potential to solidify the XRP Ledger as a platform for advanced digital assets.
Analysts expect XRP to still have upside potential, with an annual range of $2.80 to $5, suggesting this rally may still have room to grow.
