Ripple ETF (XRP) Inflows Set Another Record, But One Problem Remains

Meanwhile, XRP’s attempted breakout was once again stopped in its tracks.

Spot exchange-traded funds tracking Ripple’s cross-border token started the week strong, hitting a new all-time high in total net inflows, but a familiar and slightly worrying scenario repeated itself in the following days.

At the same time, HYPE ETFs have ended their streak and are plunged into the red for the second week in a row.

XRP ETF: the good and the worrying

Data from SoSoValue shows spot XRP ETFs attracted $2.49 million on Monday and $5.66 million on Tuesday. That’s the good news. However, the flip side was what happened over the remaining three working days of the week. And this is something that has been repeated and even accelerated in recent weeks.

The same data aggregator shows that there were no net flows to report over those three days, with $0.00 for each. Something similar was seen last week, when only one day was in the green, while the other four were at $0.00. If we look back, we can see that 10 of the last 15 trading days saw no net flows.

So even though the XRP ETFs have finished two straight weeks in the green, a closer look at the numbers shows a clear sign that investor interest has waned of late. Before those two weeks, the funds had a massive nine-week streak in which they attracted over $150 million.

Nonetheless, overall data shows that the cumulative total net inflow reached nearly $1.5 billion, according to SoSoValue, which is an all-time high.

Meanwhile, the underlying asset pumped earlier in the week, perhaps due to increased net ETF flows, rose from below $1.09 to a multi-day high of $1.16. However, it was interrupted and returned below $1.10 at press time.

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HYPE ETF Termination Form

HYPE spot ETFs quickly joined XRP funds as fan favorites, especially during a week in which they attracted more than $110 million to set their own record. However, investors have turned their backs on these funds over the past two weeks as net outflows dominate.

Over the past five trading days, they have withdrawn more than $8.6 million, following another red period in which net outflows stood at $7.26 million. Thus, cumulative total net inflows fell from an all-time high of $308.60 million to $292.73 million as of Friday’s close.