Sellers Send Ripple XRP Below $100Bn Marketcap After Brief Milestone

XRP Ripple briefly pushed its market capitalization back above $100Bn on Tuesday, September 22, before profit-taking dragged the token below that threshold later in the session.The milestone mattered because it landed alongside a reported wave of ETF buying and a sharp rebound from a slide toward $1.29 just a week earlier. Here is the tension worth unpacking: strong institutional demand met a market that still wasn’t ready to hold new highs.XRP traded between $1.54 and roughly $1.66 during the session. At the time of writing, the token sits at $1.49, down a sizeable -7.8% over the past 24 hours, according to CoinGecko data. Its market capitalization had settled back to about $92Bn, keeping it the fifth-largest cryptocurrency by that measure.For readers newer to the space, XRP is the native token of the XRP Ledger, a blockchain network associated with Ripple, the company best known for building cross-border payment infrastructure used by banks and remittance providers.XRP’s Wild Week: From $1.29 to a Brief Tap of $100Bn whales are forming a strong support lines around $1.45.On the other hand, a sell wall exists at $1.55. If it break through this, there are another sell walls exist at $1.68–$1.70 range. The rebound follows a rough stretch. XRP slid to around $1.29 a week earlier after the US Senate failed to advance the CLARITY Act, a crypto market-structure bill whose defeat rattled sentiment across the sector.From that low, the token has now gained nearly +14% over seven days, slightly outpacing the broader crypto market’s roughly +13% weekly rise, according to figures reported by TheStreet.That outperformance is notable given how far XRP still has to travel. Even with the rally, the token remains about 57% below its all-time high of $3.65, a reminder that a brief run past $100Bn in market cap is a milestone, not a reclamation of prior glory.Recent institutional ETF activity has drawn attention, and suggests interest has been building for weeks, not days.A $100Bn market cap, even briefly, was a notable milestone for XRP. That is part of why the milestone drew attention even though it didn’t stick.Bitwise Leads the ETF Charge While On-Chain Activity Spikes(SOURCE: CoinGlass)Institutional flows appeared to influence Tuesday’s XRP price spike, although they weren’t the sole cause. US spot XRP ETFs attracted over $20M, driven mainly by Bitwise, which added $19.17M in a single day, bringing its fund to around $615M in net assets and making it the largest XRP ETF.Over the past week, spot XRP ETFs recorded about $9.56M in net inflows, continuing a streak of 10 weeks of positive flows, totaling between $1.71Bn and $1.72Bn.On-chain activity reflected this price movement, with 1,917 XRP transactions over $100,000 on Tuesday, the highest in a month, and 3,647 new wallets created.This surge signals more large-value transactions, though it doesn’t confirm that large holders were accumulating rather than moving assets.What Traders Are Watching Next for XRP Ripple: $1.60 and $2 Market Cap 24h7d30d1yAll Time With the $100Bn market-cap milestone now in the rearview mirror, attention shifts to two specific price levels. With XRP now trading around $1.47, traders are watching whether it can quickly reclaim $1.50 and hold it before moving back toward $1.60.If $1.60 is reclaimed and held, this could build momentum toward the psychologically significant $2 level. Neither level is a guarantee, and both should be read as watchpoints rather than forecasts. The path there likely depends on whether the reported ETF demand from firms like Bitwise persists beyond a single strong session.It also depends on whether Santiment’s large-transaction and new-wallet counts stay elevated, and whether XRP can avoid another sharp pullback like the one that followed the CLARITY Act vote last week.For now, the fifth-largest cryptocurrency by market capitalization has proven it can touch $100Bn again. Whether it can stay there is a different question entirely, and one that this week’s profit-taking already answered in the near term.DISCOVER: Follow 99Bitcoins on X For the Latest Market Updates and Subscribe on YouTube For Daily Expert Market Analysis.The post Sellers Send Ripple XRP Below $100Bn Marketcap After Brief Milestone appeared first on 99Bitcoins.