Ripple ETFs (XRP) are losing investor momentum


Moreover, the general negative line extends until March 5.

Demand for spot XRP ETFs in the United States appears to have evaporated as the funds haven’t seen a day of net inflows in over a week.

However, the underlying token managed to make some gains over the past week before stalling at $1.45.

XRP ETFs look at investor exit

Exchange-traded funds that track the performance of the cross-border token enjoyed their first honeymoon period, which lasted about a month, during which they attracted more than $1 billion in cumulative net flows. However, they gradually disappeared from the radar of investors. The first two warning signs were seen on January 7 and 20, when $40.80 million and $53.32 million were withdrawn from the fund.

January ended with another massive outflow of $92.92 million on January 29, and the month was slightly greener overall at $15.59 million; This figure is significantly lower than the $666.61 million in November and $500 million in December.

February picked up the pace as monthly grosses totaled $58.09 million. However, there were more warning shots as there were days with zero net inflows. Similar trading days were returned last week – SoSoValue shows $0.00 reportable earnings data for March 11th and March 13th. Moreover, the other three trading days were in the red, with $18.11 million on Monday, $3.88 million on Tuesday and $6.08 million on Thursday.

This negative line extends to the previous working week. In fact, funds have not seen a green day since March 4.

Stream ETF Ripple (XRP). Source: SoSoValue
Stream ETF Ripple (XRP). Source: SoSoValue

The rise in the price of XRP has been suspended

Despite the investor exodus, the price of XRP did very well last week, rising from Monday’s low of $1.34 to a multi-week high of just over $1.45. However, it stopped there and is now struggling below $1.40.

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Its recent price movements have been in a relatively tight trading range, leading many analysts to believe a big move is ahead. For example, Ali Martinez noted a few days ago that XRP’s Bollinger Bands are tightening, indicating a major breakout soon.

He doubled down today, saying that XRP’s current triangular consolidation is nearing its peak with a 30% price rally.

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