XRP ETFs Spike $7M as Dogecoin Hits Critical Support — What Traders Must Know

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• XRP spot ETFs continue to draw strong institutional demand, tightening circulating supply.
  
• Dogecoin tests its 350-day moving average, a pivotal support level that could dictate its next move.
  
• Market-wide volatility remains, with BTC and ETH trading near recent highs.

Cryptocurrency markets are showing contrasting narratives this week, as XRP’s spot exchange-traded funds (ETFs) continue to attract strong institutional demand, while Dogecoin tests key technical support that could determine its short-term trajectory. Investors are closely watching both tokens, with traditional wrappers tightening XRP’s circulating supply and Dogecoin hovering at a pivotal price point.

XRP Spot ETFs See Significant Inflows

XRP spot ETFs experienced a pronounced demand spike on January 28, reflecting growing investor appetite for the token through regulated products. According to PANews, total net inflows into XRP spot ETFs reached $6.95 million on the day. The Franklin XRP ETF (XRPZ) led with $3.13 million in inflows, pushing its cumulative net inflows to $300 million. Grayscale’s GXRP added $2.6 million, taking its historical inflows to $234 million.

Collectively, XRP ETFs now hold a total net asset value of $1.39 billion, with cumulative inflows surpassing $1.26 billion. While some market participants noted potential offsetting on-chain selling, the overall trend highlights a structurally thinner XRP float as tokens are pulled into ETFs. Analysts suggest this dynamic could provide a buffer against broader market volatility.

Dogecoin Faces MA350 Support Test

Meanwhile, Dogecoin has been trading in a narrow range following its early January rally. The memecoin recently retested its range lows but is now attempting to reclaim a key technical area around its 350-day moving average (MA350), which has historically provided critical support.

Analyst assessments are split. Some, like Tardigrade, note that Dogecoin’s current weekly performance mirrors prior cycles where consolidation preceded parabolic runs, suggesting the pullback may be complete. Others, including TradingShot, caution that if the MA350 support fails, Dogecoin could enter a deeper bear phase, potentially extending losses seen in previous cycles, with a possible bottom forming by Q4 2026.

Also Read: MEXC Launches Hot Tokens Earn Fest, Adding XRP, SUI, DOGE and PEPE with 10% APR

Market Context

These movements occur against a backdrop of broader crypto activity. Bitcoin trades near $88,198 with $32.8 billion in daily volumes, while Ethereum hovers around $2,943 on $23.9 billion in turnover. XRP itself trades near $1.89 with $2.5 billion in 24-hour spot volume. The divergence between XRP’s strong ETF inflows and Dogecoin’s delicate support test underscores the varied dynamics shaping the digital asset market today.

XRP’s ongoing ETF inflows illustrate how traditional financial structures can influence token supply, potentially providing stability amid market swings. Dogecoin, by contrast, faces a make-or-break technical juncture that could define its medium-term trajectory. Investors monitoring these tokens should weigh structural supply trends against technical risk factors in the weeks ahead.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.