XRP surged 10.40% on August 19, its strongest daily gain since February 2024 and one of the best since 2020, ranking in the top 3% of all trading days. This rally outperformed Bitcoin’s 7.13% gain and most large altcoins. However, XRP ETF inflows dropped from $5.81 million to $2.35 million on the very same day, while Bitcoin ETFs saw $517 million in inflows, indicating institutional investors did not support this move. Historically, across 14 similar days since 2020 when XRP beat Bitcoin, the median return over the following seven days was -3.84%, with only about a third of those episodes ending higher a week later. Technically, XRP remains trapped in a falling channel since mid-May, with key support at $0.98.
Source: Read the original article
