- XRP spot ETFs pulled in $39 million over the week, while Bitcoin and Ethereum ETFs saw heavy outflows.
- Total XRP ETF assets now stand at $1.04 billion, or about 1.17% of XRP’s market cap.
- XRP remains bearish below its descending channel, with any relief bounce facing strong resistance.
XRP spot ETFs recorded $39 million in net inflows over the past week, while the wider crypto market has bled massively. The inflows came during one of the most aggressive risk-off periods of the year, with capital exiting Bitcoin and Ethereum products at the same time.
Bitcoin ETFs saw net outflows of $318 million over the week, while Ethereum ETFs lost around $166 million. It is important to note that XRP was the only major asset with sustained inflows.
Bitwise’s XRP ETF led daily inflows with $8.29 million. Franklin Templeton’s XRPZ added $3.94 million, while Canary’s XRPC brought in $2.93 million.
Following the inflows, total net assets across XRP ETFs rose to $1.04 billion. Cumulative historical net inflows now exceed $1.22 billion. XRP ETF assets represent roughly 1.17% of XRP’s total market value.
XRP Price Analysis: What’s Next?
The inflows came after the token fell nearly 70% from its recent peak, making it the worst performer among the top 100 cryptocurrencies during the correction. XRP has since stabilized near $1.42.
As the chart shows, XRP is trading below the descending channel, confirming a breakdown and reinforcing the broader bearish trend. While a short-term relief bounce may occur, any upside is likely to face resistance near the lower boundary of the descending channel.
Meanwhile, RSI is near oversold territory while the MACD remains negative. A successful hold above the $1.35-$1.40 support zone could trigger a relief bounce.
While the initial upside targets sit near $1.80-$2, a break back above the descending channel could open the door to a move toward $2.30-$2.60, where heavy resistance previously formed.
A decisive breakdown below $1.30 would invalidate the near-term stabilization chances. Below that level, a pullback to $1.10 or maybe even to $1 is possible.
Related: XRP Ledger DeFi Roadmap Shows Expanding Role in Financial Infrastructure
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Source: https://coinedition.com/xrp-etfs-see-inflows-despite-broad-market-selloff/
