XRP traded near $1.29 on October 24 even as inflows returned to Franklin Templeton's spot XRP exchange-traded fund, with on-chain data showing record wallet growth across the XRP Ledger. Analysts have flagged $1.40 and $1.57 as key resistance levels before a possible recovery toward $2.

The XRPZ fund attracted $3.55 million on October 22, extending its two-session inflows to $5.80 million. Meanwhile, analytics firm [Santiment reported](https://x.com/SantimentData/status/2113309995462774975?s=20 record XRP Ledger wallet growth, although the token continued to trade below $1.40.

Franklin Templeton's XRPZ ETF Logs $3.55 Million Inflow

Franklin Templeton's XRP ETF, trading under the ticker XRPZ, recorded $3.5464 million in net inflows on October 22. According to SoSoValue, the fund accounted for the entire day's net inflow into U.S. spot XRP ETFs.

The latest inflow lifted XRPZ's cumulative net inflows to approximately $519 million since its launch. Combined net inflows across the five U.S. spot XRP ETFs amount to $1.804 billion, with combined net assets of $1.488 billion. Spot ETFs like XRPZ hold the underlying token directly and trade on exchanges, giving investors XRP exposure through ordinary brokerage accounts. Because their flows are published daily, they also provide a publicly trackable record of how such exposure is building.

Franklin's latest addition followed a $2.25 million influx on October 21, the fund's momentum from the prior session. The two sessions brought approximately $5.80 million into XRPZ, even as XRP struggled to recover above $1.40.

The renewed inflows followed a slower stretch for XRP investment products in October. In September, spot XRP ETF inflows exceeded $121 million, while October has seen several sessions with limited activity. The week ending October 16 recorded approximately $1.84 million in withdrawals, ending 13 consecutive weeks of net inflows. That ended streak gives the latest two-session rebound added significance for ETF flow watchers.

XRP Ledger Wallet Count Hits Record High

Santiment reported that the XRP Ledger's network continued to expand, with non-empty wallets reaching a new high of 8.24 million. Wallet counts serve as a widely followed on-chain adoption gauge, since each non-empty address represents XRP held at that point on the ledger. The increase extends several months of growth, even as XRP trades below its previous price highs.

Network activity also saw 4,772 wallets added in a single day, the fifth-highest daily figure since March, while XRP traded near $1.30 after several sessions of consolidation.

Santiment pinpointed $1.40 as the initial price resistance level to watch, alongside daily wallet additions of around 4,000. A sustained breakout above that level could open a recovery toward $1.50 if network activity remains strong.

On the downside, the analytics firm identified $1.30 as an important level for the token. A move below that support, accompanied by daily wallet creation falling under 3,000, would weaken the short-term recovery setup.

XRP Price Outlook: Can Bulls Push Toward $2?

After failing to break above $1.40, XRP has been trading around $1.32. A recent XRP price analysis noted that $1.28–$1.30 are turnaround points of immediate significance, with $1.38 remaining a recovery threshold.

Immediate upside levels sit around $1.38, $1.40, and $1.44, with firmer resistance at $1.57. Buyers would need to reclaim these levels before a broader recovery gains momentum.

Meanwhile, a three-day Elliott Wave chart places XRP near a possible Wave 2 completion area between $1.12 and $1.21. The analyst expects the broader bullish pattern to remain intact if XRP tests this support area before recovering.

Under the projected setup, a breakout above $1.57 could bring $1.88 into focus. The $2 target remains conditional on XRP holding support and clearing the resistance levels above its current price.

The analyst's extended outlook suggests a possible $7.07 high for Wave 3 and a $4.11 target for the Wave 4 correction. According to the chart's Fibonacci extension, the final Wave 5 projection sits at about $10.11.

In the short term, XRP is under pressure to hold $1.30 as it attempts to move away from the lower support zone. A break below $1.21 would put $1.12 in sight, while a move above $1.57 would bring the $1.88 resistance zone nearer.

With ETF flow reports published daily, Santiment's wallet-creation thresholds set at roughly 3,000–4,000 addresses, and the $1.30–$1.57 price band in play, the coming sessions offer a series of concrete, publicly trackable data points against which the levels described above can be measured.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry substantial volatility and potential financial losses. Readers should conduct independent research before making investment decisions.

Source: The Market Periodical