Fast Facts
- Despite a tough week for most crypto assets, XRP ETFs in the US still managed to close in the green, with a slight net inflow of $2.62 million, setting a new all-time high of over $1.43 billion.
- XRP’s underlying price plummeted 21% from $1.33 to $1.05 amidst a broader crypto market downturn, reaching its lowest point since late 2024.
- Bitcoin experienced even larger losses, shedding $1.7 billion, highlighting XRP’s relative resilience through ETF inflows.
- Analysts warn that unless the broader market improves, XRP might dip below the $1.00 psychological level, despite the positive ETF performance.
Ripple ETFs Offer Rare Bright Spot Despite XRP’s Crash to 19-Month Low
ETFs Maintain Slight Growth Amid Market Turmoil
Despite a challenging week for many cryptocurrencies, Ripple ETFs in the United States managed to keep a positive trend. Although the funds didn’t see spectacular growth, they ended the week with a modest $2.62 million in net inflows. This is a significant contrast to Bitcoin-related funds, which lost about $1.7 billion during the same period. Notably, XRP ETFs only experienced one day of withdrawals, on June 3, totaling $5.34 million. On other days, inflows of over $3 million helped offset the losses. As a result, the total amount invested in XRP ETFs now exceeds $1.43 billion, with Bitwise’s fund slightly ahead of Canary Capital’s.
XRP Prices and Market Pressure
Even with the positive ETF news, XRP’s price faced strong downward pressure. During the week, Bitcoin’s value dropped from over $73,000 to $59,000. Similarly, XRP fell from $1.33 to $1.05, marking a 21% decrease. This decline pushed XRP to its lowest price since late 2024, just after the US presidential election. Although XRP showed some signs of recovery, it remains below $1.10. Experts remain cautious, noting that if the broader market does not improve quickly, XRP could dip below $1.00 soon.
Stay Ahead with the Latest Tech Trends
Explore the future of technology with our detailed insights on Artificial Intelligence.
Explore past and present digital transformations on the Internet Archive.
Disclaimer
This content is for informational and entertainment purposes only and does not constitute financial or investment advice. Cryptocurrency is highly speculative and carries significant risk, including the potential loss of your entire investment. This information may be outdated or incomplete. Do not make financial decisions based on this information. Consult a licensed financial advisor before investing. This site does not offer, sell, or advise on cryptocurrency, securities or other regulated financial products in compliance with SEC and applicable laws. Please do your own research and seek professional advise.
CryptoV1
