XRP Price Gets Extremely Overbought as Whales Buy, ETF Inflows Jump

XRP (CRYPTO: XRP) price surged to its highest level since January last year as the crypto market rally intensified. Ripple peaked at $1.6963, up sharply from the year-to-date low of $0.9870. This rally has, however, brought it to the most overbought level since July last year.

XRP ETF Inflows are Rising Amid Resilient Whale Buying

Ripple token staged a strong comeback this week, reaching its highest point since January. This rally coincided with the ongoing crypto market rally that pushed top coins like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Cardano (CRYPTO: ADA) to their highest levels in months.

It also happened as the Crypto Fear and Greed Index jumped to the greed zone of 73, its highest level in months. The soaring index is a sign that investors have embraced a risk-on sentiment in the market.

One sign of this growth is investors piling into XRP ETFs. These funds attracted more than $18 million in inflows on Friday, bringing weekly inflows to $40 million, the biggest increase since May. 

The Bitwise and Franklin XRP ETFs added more than $12.2 million and $1.49 million, respectively, on Friday, bringing their net assets to $442 million and $433.8 million, respectively.