Key Insights
- XRP price gained traction after its integration into the Solana ecosystem through wXRP.
- Kalshi traders projected XRP price could test $1.60 as support formed near $1.40.
- ETF clients accumulated $13.74 million in XRP, pushing total assets to $1.11 billion.
XRP price drew fresh attention after Ripple’s token went live on Solana through wXRP integration. The move, announced this week, triggered executive buying and renewed ETF inflows. Traders now watch whether XRP price can reclaim $1.60 as demand expands across new ecosystems.
Ripple Goes Live on Solana As Executive Buys $10K XRP
Diving into the details, Ripple’s XRP went live on the Solana blockchain. Platforms built on Solana, such as Phantom, Jupiter Exchange, Titan Exchange, Meteora, and Raydium, now offer Wrapped XRP (wXRP).
This integration was built on LayerZero’s OFT standard and secured by Hex Trust’s regulated custody. Every wXRP was backed by a 1:1 ratio of XRP which was auditable, compliant, and ready for DeFi.
Speaking after this move, the CEO of Ripple, Brad Garlinghouse, echoed the growing demand for XRP. Garlinghouse said, “Demand for XRP keeps growing. More access, more ecosystems, more utility.”
The move received significant backing from executives, in addition to retail traders who enjoyed the low fees on the Solana blockchain. For instance, the Chief Product Officer at Solana, Vibhu, backed Ripple’s integration by completing a transaction to buy the wrapped XRP. Vibhu bought about 10,000 XRP to showcase this wrapped version on the Solana blockchain.
This move means that XRP is tapping into the huge liquidity available on Solana alongside its massive user base that favors the low fees. That translates into high trading activity and volume, which may influence XRP’s price in the near term and over the long term.
XRP Price Prediction: Traders on Kalshi Eye $1.60
The price action charts were starting to align with the integration of XRP into Solana, driving sentiment among traders. For instance, traders on Kalshi increased the possibility of XRP price hitting $1.60 in April from a reading of 1.4 to 1.6 in five days. Such a bet indicates that market participants are becoming bullish on the token.
The market structure showed that XRP price was forming a bottom above the $1.42 zone. After the price corrected from a surge to $1.50, the bottom is beginning to form. This development has elicited bullish sentiment from prediction markets. Based on the current market structure, holding above this level suggests now could be the time to buy XRP in anticipation of the price hitting $1.60.
However, if it fails to hold above the higher low potentially forming around the $1.40 zone, the altcoin may revisit $1.38 or lower.
XRP Price Gains Support as ETF Inflows Rise
Meanwhile, the capital inflows through XRP ETFs were increasing. The integration of XRP into Solana may further boost institutional custody, further expanding the provision of XRP ETFs.
As ETF volume picks up, clients bought about $14 million worth of XRP in the past 24 hours. This brought the total ETF-held net assets to around $1.10 billion, indicating that institutional inflows were gaining pace. Such capital inflows into XRP through ETFs could trigger a supply shock if buying continues.
Altogether, the integration of XRP into Solana alongside a surge in ETF inflows suggested that the altcoin was likely to hit $1.60. However, traders need to be wary of geopolitical tensions amid the US’s failure to secure a breakthrough in negotiations with Iran.
XRP price now hinges on whether new liquidity from Solana and ETF demand can sustain momentum above $1.40. A failure to hold this level may delay further upside.
