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Amsterdam-based crypto trader and analyst Michael van de Poppe has taken to Twitter to share a scenario he expects <a href="https://u.today/is-xrp-becoming-worlds-leading-platform-for-cbdcs">XRP coin</a> to follow in the near future.
<h2 id="holding-0-47-as-support">Holding $0.47 as support</h2>
Sharing this XRP analysis on the request of his followers, Poppe tweeted that he expects the sixth largest coin by market cap to hold the $0.47 level as support. If it falls through it, then it may test $0.41-$0.42 before the coin attempts to make a reversal or go upward again.
The analyst emphasized that the recent release of the Hinman emails made a great impact on the coin's price. Immediately after the documents were released last week, XRP soared around 8.5%. But then, the coin suddenly rebounded and went sharply down, losing 14.82% by now.
At the time of this publication, XRP is changing hands at $0.47835 on the Bitstamp exchange.
<blockquote class="twitter-tweet">
 Request 01 - <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a>This scenario is still making sense.Heavy sweep after the Hinman emails.Expecting to see $0.47 hold as support, otherwise we'll be seeing a case where we'll test $0.41-0.42 before we'll see some reversal or upwards movements. <a href="https://t.co/RhtXV1DZ3B">pic.twitter.com/RhtXV1DZ3B</a>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1671134103616335872?ref_src=twsrc%5Etfw">June 20, 2023</a>
</blockquote>
<a href="https://u.today/deutsche-bank-attempts-to-gain-crypto-custody-service-license-details">card</a>
<h2 id="institutional-investors-grabbing-xrp">Institutional investors grabbing XRP</h2>
As covered by U.Today, last week, CoinShares wealth management company saw massive inflows into its digital asset-based funds. XRP was the biggest winner here as investment inflows into this <a href="https://u.today/xrp-fund-inflows-eye-explosive-1-million-surge-as-ripple-v-sec-verdict-nears">Ripple-affiliated coin totaled $1.1 million</a> on a weekly basis, $2.2 million month-to-date and $6 million year-to-date. In total, CoinShares holds $48 million worth of XRP under its management.
In the meantime, the two largest crypto assets – Bitcoin and Ethereum – saw major outflows last week as the funds were withdrawn by financial institutions. Bitcoin saw $0.5 million of investments withdrawn and Ethereum lost $5 million last week.
XRP investments have been rapidly growing after the recent release of the above-mentioned Hinman documents as the final decision of the judge on the Ripple-SEC case is now expected to be announced quite soon. Should this happen, many expect the XRP price to skyrocket.
At the moment, the coin is trading 87.49% below the all-time high of $3.84 reached on Jan. 4, 2018.

XRP to Hold $0.47 as Support, Here's What Happens Otherwise: Prominent Analyst

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