[Analysis] "XRP, whether breaking above $2.11 is crucial… ETF cumulative net inflows of $1 billion are positive"

XRP (XRP) is defending a psychological support level, and investor sentiment appears to be recovering. However, it still faces difficulty breaking through resistance levels.

On the 9th (KST), CoinDesk said, "During the decline from $2.03 to $2.00, trading volume surged to 129.7 million, a 251% increase compared with usual," adding, "This indicates that institutional buying flowed in at the psychological support level despite strong selling pressure."

Indeed, the XRP spot exchange-traded fund (ETF) has performed well since its launch. It has seen net inflows of over $1 billion in the U.S. market to date. This is the fastest pace among altcoin ETFs launched around the same time.

Meanwhile, open interest in the derivatives market has been declining, showing a flow of funds moving into regulated products.

Technical analysis identified $2.11 as a key price. The outlet said, "XRP is forming a structure of higher lows on the short-term chart, but it has failed to break the resistance in the $2.08~$2.11 range, leaving supply pressure," adding, "A sustained bullish reversal requires a break above $2.11, and if it clears that level, the $2.20~$2.26 range is presented as the next resistance."