- XRP funds regain momentum
- 21Shares leads with highest inflow
The U.S. spot XRP ETFs are showing early signs of recovery after a period of intense selling pressure, recording a net inflow of $16.79 million in a single day as of Jan. 30, according to data from SoSoValue.
The notable inflow seen during the last trading session marks a major recovery for the sector as they have just recorded heavy withdrawals, with over $92 million moved out of the funds in one day.
The renewed demand seen among the XRP ETFs have helped increase their cumulative net inflows to a massive $1.18 billion, while total net assets also increased to $1.19 billion.
XRP funds regain momentum
While the fresh capital had flowed in despite the high volatility seen across the crypto market, with the price of XRP trading in the deep red territory, trading activity remained steady with $28.74 million.
Also, it is important to note that most XRP ETFs posted daily declines of around 3% to 4%. However, the inflows occurred despite short-term price pressure.
While the XRP ETFs have pulled the massive inflows from the bearish market trends, it appears that institutions remain keenly convinced about the asset’s long-term prospects.
With the inflow coming just a day after the funds recorded their largest outflow ever, the quick recovery seen in the next day suggests that institutional investors may be using recent price weakness as a buying opportunity rather than an exit signal.
21Shares leads with highest inflow
The data further showed that the massive injection of fresh capital seen on the day was majorly contributed to by the 21Shares XRP ETF.
Notably, 21Shares’ TOXR ETF attracted the largest share of inflow with $8.19 million in daily inflows, followed by Bitwise’s XRP ETF with $3.91 million, Canary’s XRP ETF with $2.79 million and Franklin’s XRPZ ETF with $1.90 million.
Source: https://u.today/xrp-etfs-recover-from-heavy-downturn-with-1679-million-fresh-capital-intake
