XRP-linked exchange-traded funds continue to attract investor interest despite a broader downturn in the cryptocurrency market.
ETF Inflows
Recent data indicates that clients of XRP ETFs purchased $1.77 million worth of XRP yesterday, bringing the total net assets to approximately $1.12 billion.
This fresh inflow of capital into XRP comes as Bitcoin and Ethereum products experience renewed outflows. Investors appear to be reducing their exposure to riskier assets amid the market-wide decline. Data from SoSoValue shows that US spot Bitcoin ETFs recorded $228 million in outflows, while Ethereum products lost $121 million.
In this context, XRP’s $1.77 million inflow, while seemingly modest in size, could be considered significant in terms of its direction. It suggests that some ETF investors are continuing to accumulate exposure to Ripple’s native cryptocurrency, even as capital exits Bitcoin and Ethereum products.
Price Performance
However, the inflow has not been sufficient to reverse XRP’s weakening price action, although some positive signs are emerging.
XRP is showing a modest rebound today, trading approximately 2% higher. Nevertheless, this move has not fully erased the recent bearish pressure.
As previously reported by CryptoPotato, XRP recently fell to its lowest levels since March, with $1.20 identified as the next major support zone.
Technical pressure has also been intense over the past week. XRP fell below its 100-day moving average, currently acting as significant resistance at $1.4, while the 200-day moving average remains higher, around $1.6.
A breakdown below $1.2 could potentially lead to a more substantial decline, possibly towards the $0.60 zone.
The contrast is clear: ETF demand remains positive, but price momentum is still bearish. Reclaiming the 100-day EMA at $1.4 would be the first step towards stabilizing XRP’s price action.
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