XRP ETFs Dominate over BTC, ETH, Will XRP Price Recover Fast?

Although XRP XRP $2.15 24h volatility: 7.5% Market cap: $129.74 B Vol. 24h: $4.71 B price continues to flirt with the support zone around $2.0 levels, demand for spot XRP ETFs remains robust. On Dec. 1, XRP ETFs dominated over their Bitcoin BTC $90 647 24h volatility: 6.2% Market cap: $1.81 T Vol. 24h: $79.69 B and Ethereum ETH $2 992 24h volatility: 8.7% Market cap: $361.13 B Vol. 24h: $28.18 B counterparts in net inflows. Analysts believe that this could potentially lead to XRP price upside ahead.

Spot XRP ETFs Steal the Show

During the last month of November, top asset managers launched their XRP ETFs for trading on Wall Street. Canary Capital’s XRPC dominated the show with most of the inflows. Other asset managers like Bitwise, Grayscale, and Franklin Templeton also introduced their Ripple ETFs in the market.

On December 1, spot XRP ETFs recorded $89.65 million in net inflows, pushing their cumulative total to $756.26 million since launch. This makes the Ripple funds the top-performing products across the digital asset ETF market.

XRP ETF inflows | Source: SoSoValue

On the other hand, Bitcoin ETFs were the only other category to post gains, adding a modest $8.48 million. Ethereum ETFs saw more than $79 million in net outflows, while Solana SOL $139.0 24h volatility: 11.8% Market cap: $77.89 B Vol. 24h: $6.53 B products registered $13.55 million in withdrawals. The two spot DOGE DOGE $0.15 24h volatility: 9.2% Market cap: $22.13 B Vol. 24h: $1.47 B ETFs reported no inflows or outflows for the second straight trading day.

The spot XRP ETFs have maintained a consistent streak of positive inflows, with no net outflow days recorded since Nov. 13. Their strongest sessions came on Nov. 14 with a record $243.05 million in net inflows, followed by $164.04 million on Nov. 24 and $118.15 million on Nov. 20.

In a recent development, the $11 trillion asset manager Vanguard noted that it would allow the spot XRP ETFs to trade on its platform. These ETFs will trade along with similar products for BTC and ETH. Moreover, they would be available for 50 different brokerage clients of Vanguard.

Will XRP Price Recover From Here?

Amid the broader crypto market correction, XRP price has also faced a strong sell-off and is down by 20% on the monthly chart. Currently, the XRP cryptocurrency is finding its support at $2.0 level.

Crypto analyst Lark Davis said XRP is nearing a major multi-year support confluence. According to Davis, the altcoin is currently sitting on long-standing horizontal support, the weekly 100-EMA, and a high-volume demand zone between $1.80 and $2.00.

Davis cautioned that a weekly close below $1.80 would break this structure. Such a move would shift market bias to bearish and potentially open the door to further downside.

On the other hand, market analyst EGRAG Crypto said an “insane” XRP breakout may be imminent. He hinted that the current chart structures suggest a major upside ahead.

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