Spot XRP ETFs hit a new all-time high in cumulative net inflows after investor demand returned in April.
summary
- Spot XRP ETFs reached $1.29 billion in cumulative inflows after demand returned strongly in April.
- XRP has remained near $1.43 despite new ETF inflows and renewed investor demand recently this week.
- Nearly 35 million XRP left exchanges, raising hopes of reduced selling pressure for traders.
Data from SoSoValue Show Total net flows rose to $1.29 billion at the end of the last business week. The funds added $15.74 million during the week ending April 24. April inflows reached $81.63 million, making it the strongest month for XRP ETFs since December.
XRP ETFs have gotten off to a strong start after launching in mid-November. The funds quickly crossed the $1 billion mark and avoided outflow days for nearly two months.
This trend changed in March as market uncertainty pushed some investors away from risky assets. March became the first negative month for XRP ETFs, with more than $31 million leaving the products.
The return of flows came after the easing of geopolitical tension related to the crisis Ceasefire between the United States and Iran. The week ending April 17 recorded the highest weekly net inflow in three months.
XRP price failed to follow ETF demand
XRP has not matched the renewed demand XRP ETFs. The token recently faced rejection near $1.46 after earlier failing to sustain a move towards $1.60.
At the time of reporting, XRP was trading near $1.43. The price showed little change from the previous week, despite new ETF inflows and strong market interest.
Crypto market analyst Tony described XRP’s recent price action as a “boring few months.” The token has traded between $1.20 and $1.60 for over 60 days.
Exchange outflows raise bullish hopes
XRP also saw significant exchange inflows in the latest market data. Nearly 35 million XRP It is said It left the exchange within 24 hours, marking the sixth-largest outflow this year.
Some analysts see large currency withdrawals as a possible sign of reduced selling pressure. Similar increases in February and March came before XRP’s 20% to 50% rises, according to the report.
However, XRP still needs a clear break above its recent range to confirm stronger momentum. Analyst Ali Martinez I offered A more bullish view over the long term, but she said XRP could first fall towards $0.90 before any larger move.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
