Is The Ripple ETF Hype Over? Gains are disappointing as XRP struggles for $1.40



XRP experienced extreme volatility on Saturday, but it had nothing to do with ETFs.

Although they have ended their streak of zero-day volatility, XRP ETFs are still far from their initial glory in terms of net inflows.

At the same time, the main asset continues to fight with BNB for the fourth place in the ranking of the cryptocurrency market, but it is inches below the main resistance.

Ripple ETF funds are not available yet

Crypto potato has reported a number of times of reduced activity on the XRP ETF front. Financial vehicles brought in less than $8 million during the trading week ending Feb. 13 and less than $2 million the following week. Moreover, it had three days with zero arrivals during this period, a streak that extended until February 23.

However, investors eventually picked up momentum over the next four trading days, albeit very modestly. The net income was $3.04 million on Tuesday, $3.09 million on Wednesday, $1.22 million on Thursday and $2.21 million on Friday. Overall, the week ended in the green with $9.55 million in funds.

This modest amount is in stark contrast to the initial peak. After the first XRP-focused ETF launched for trading in mid-November, investors rushed to invest in it and four other products. As a result, the cumulative net income has reached $1 billion in the month since XRPC Canary Capital saw the light of day.

But since then, the trend seems to have changed. Total net inflows now stand at $1.24 billion, which means just $240 million has flown into the fund in two months.

XRP is fighting BNB

Saturday was a busy day in the crypto markets due to the strikes against Iran and subsequent retaliation. XRP was not safe as it dropped from $1.43 to $1.27 after reports that Iran’s Supreme Leader was killed in the attacks.

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Well-known crypto analyst CryptoWZRD noted that the asset closed with a “doji candlestick and respected the daily support of $1.30.” They believe that XRP can only continue higher if it closes the weekly high of $1.3820. As of press time, the asset is trading inches above this line. However, it took fourth place from BNB in โ€‹โ€‹terms of market volume after a quick turnaround on Saturday.

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