Is XRP’s rebound likely? Why traders watch the $1.26 support zone
The spot ETF flows to Ripple [XRP] ended the previous week fairly strongly. On the 21st and 22nd of May, the inflows totaled $18.35 million. This figure slowed down to just $1.55 million on the 26th of May. At the same time, the crowd FUD was the highest it had been in three weeks, a recent AMBCrypto report found. This level of fear has often acted as a contrarian signal. The higher levels of skepticism generally coincide with seller exhaustion, which can set the stage for a price rebound. The report also noted that institutional conviction in XRP remained strong. Using the 30-day liquidity index on Binance, it indicated that sell-side liquidity was thinning out. The combination of spot ETF inflows and high fear levels means investors can expect an XRP rebound in the coming days. The price action showed where this could be possible and when these recovery hopes can be considered dashed. On the 1-day price chart, a range formation revealed itself. Extending from $1.31 to $1.54, the range had been in place since late February. XRP was approaching the lows once again, and it was likely to see a bullish reaction. The OBV was a distance away from the April low, which