XRP-linked exchange-traded funds continue to attract investor demand despite the broader crypto market downturn.
The latest data shows that XRP ETF clients bought $1.77 million in XRP yesterday, bringing total net assets to about $1.12 billion.
XRP Funds Defy Broader ETF Weakness
The fresh XRP inflow comes at a moment when Bitcoin and Ethereum products have been hit by renewed outflows. Investors seem to be pulling back from riskier assets amid a broader crypto market downturn. Data from SoSoValue shows that US BTC spot ETFs record $228M in outflows, while ETH products lost $121M.
Against that backdrop, XRP’s $1.77 million inflow might seem modest in size, but it could be interpreted as notable in direction. It indicates that some ETF investors continue to accumulate exposure to Ripple’s native cryptocurrency despite the fact that capital is exiting BTC and ETH products.
Of course, the inflow has been far from enough to reverse XRP’s weakening price action, although positive signs appear.
XRP Price Notes Small Rebound
XRP is showing a modest rebound today, with the token trading around 2% higher. That said, the move has not fully erased the recent bearish pressure.
As CryptoPotato reported earlier, XRP recently slipped towards its lowest levels since March, eyeing $1.20 as the next major support zone.
Technical pressure has also been intense throughout the past week. XRP fell below its 100-day moving average, which is currently treated as considerable resistance at $1.4, while the 200-day moving average remains higher around $1.6.
A breakdown below $1.2 could open the door to a much deeper decline, potentially toward the zone around $0.60.
And yet, the contrast seems clear: ETF demand remains positive, but price momentum is still bearish. The first step to stabilizing the PA would be to reclaim the 100-day EMA at $1.4.
The post Good News for Ripple? XRP ETFs Post Inflows Despite Market Downturn appeared first on CryptoPotato.
