XRP ETF Demand Returns? Ripple Funds Hit 2-Month Inflow High
XRP spot ETFs experienced their highest inflow in two months, with $9.09 million recorded on a single day, signaling renewed investor interest after a period of outflows and inactivity. The underlying XRP asset showed a modest 2.5% price increase, holding key support levels and sparking optimism among analysts about a potential larger rally if certain price targets are surpassed. Despite this positive momentum, inflows remain significantly lower than the peak levels seen in late 2023.
After weeks of diminishing inflows, which included multiple no-inflow days, the spot XRP ETFs finally saw a substantial uptick on Friday, marking a multi-month high. The underlying asset has joined the market-wide rally, with a minor increase since last weekend, but some analysts remain hopeful of a more profound breakout. XRP ETFs Finally in the Green The funds tracking the performance of the popular cross-border token went into a violent spiral when March arrived. After two consecutive weeks of more outflows than inflows, it became the first month to end in the red since the ETFs’ inception in November last year. April began on the wrong foot again, with over $3.5 million in net inflows in the first week. Moreover, there were numerous days when investors were apparently absent, with zero reportable data. The last two such examples were from the previous business week, on April 6 and 8, with SoSoValue showing a clear “$0.00” for both. However, investors returned on Friday, recording a new inflow day of $9.09 million – the single-highest number since February 6, when the funds attracted over $15 million. The week also ended in the green, with $11.75 million in net inflows. Nevertheless, these numbers are still far from the peaks recorded in November and December, a period in which the funds saw well over $1 billion in net inflows. XRP Rebounds The underlying asset has marked a minor 2.5% increase compared to last Saturday. It successfully defended the support levels at $1.32 and $1.30 and now sits close to $1.35. Popular analyst CRYPTOWZRD weighed in on XRP’s closure yesterday, claiming that the bounce from the $1.32 support aligned with a potential bigger break against BTC could trigger a more substantial rally. Crypto Tony also talked about XRP’s performance, but believes it could reverse the short-term bearish trend only after it reclaims the $1.39 level. $XRP / $USD – Update Reclaim $1.39 and we are good to go for a long and advance to higher targets. pic.twi...
Comments
Log in to comment