Fast Facts
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ETF Performance: After a brief decline, XRP-focused ETFs saw a resurgence with a total net inflow of $56.84 million, reversing the outflow trend from January 7.
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Market Leaders: Canary Capital’s XRPC leads in cumulative inflows at $397.04 million, followed by Bitwise’s XRP ($310.48 million) and others, while 21Shares’ TOXR lags with $7.77 million in net outflows.
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XRP Price Status: Despite strong ETF inflows, XRP’s price declined 1% since last Saturday, trading below $2.10 and losing its market cap rank to BNB.
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Whale Activity: Positive signs emerge as whales returned, purchasing over 50 million XRP tokens, indicating renewed interest after a previous selling trend.
Spot XRP ETFs See Surge in Inflows Despite Price Dip
Last week, spot XRP exchange-traded funds (ETFs) experienced significant movement. Initially, on January 7, these funds broke a remarkable streak, marking the first day of losses after nearly two months of growing investor interest. However, the situation quickly improved.
By the end of the week, the XRP ETFs bounced back, netting $56.84 million in inflows. According to data from SoSoValue, buyers returned enthusiastically. Specifically, funds saw inflows of $15.04 million on Monday, $12.98 million on Tuesday, and continued gains throughout the week. Interestingly, Canary Capital’s XRPC remains the market leader, though Bitwise’s XRP is closing the gap.
Despite this surge in ETF activity, XRP’s price didn’t respond as investors might have hoped. The asset saw a minor decline of 1%, trading below $2.10. Additionally, XRP lost its rank, falling to fifth place in market capitalization, overtaken by BNB.
However, analysts maintain a positive outlook. They suggest that XRP’s current price movement may be part of a larger upward trend. Notably, whale investors have returned, purchasing over 50 million tokens in just a week. This contrasts sharply with prior months when large holders sold off billions of coins.
The unique value proposition of XRP lies in its ability to streamline cross-border payments, making it a potential game-changer in financial technology. As the market evolves, the interest in XRP ETFs signals growing confidence in digital currencies, even amid price fluctuations.
Stay tuned for further updates as the crypto landscape continues to adapt.
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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. 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.
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