Why is the price of XRP rising today despite the massive withdrawal of ETFs?


ETFs recorded their worst day of outflows since late January.

Cross-border token Ripple joined the overall market recovery last day, rising 4% to $1.40.

What is interesting about this pump today is that it comes despite a significant outflow from XRP ETFs yesterday.

Why is XRP high today?

Last week, when the entire crypto market recovered after the US and Israeli attacks against Iran, XRP declined to around $1.50. Along with most altcoins and the market leader, XRP fell to $1.35 in the following days and even fell to $1.32 on Sunday when BTC fell to $65,500.

It has responded well to recent corrections and gone on the offensive, especially in the last 12 hours. Currently, the token is trading slightly above $1.45 for the first time since last Friday. Perhaps a large part of today’s jump can be attributed to the aforementioned resurgence across the market, which was fueled by Trump’s remarks last night about a war with Iran that was “very complete and very much.”

Separately, today’s achievements come shortly after Ripple’s official channel on X revealed some major developments in the Ripple Payments infrastructure, including more than $100 billion in transactions, reaching more than 60 markets and having 51 real-time rails.

What’s next?

Commenting on XRP’s price performance, the CW analyst noted that long positions are “gradually increasing” and added that investors are “quietly preparing for the upside.”

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Fellow analyst CryptoWZRD explained that the asset closed the previous daily candle firmly, adding that the Ripple coin “needs more positive sentiment from XRPBTC to help the move.”

They said that positive territory will be visible when XRP recovers the $1.4230 level; otherwise, it may face another price drop.

XRP ETFs are bleeding again

Compared to the impressive 4% gain seen today, XRP ETFs continued to make significant withdrawals. Investors withdrew a total of $18.11 million from the fund yesterday, the highest one-day net outflow since Jan. 29, data from SoSoValue shows.

Last week also ended in the red, although it started on a strong note, with ETFs recording a 7-day green streak that was broken on March 5. Currently, cumulative net income is down to $1.22 billion from a recent peak of $1.26 billion.

Flow XRP ETF. Source: SoSoValue
Flow XRP ETF. Source: SoSoValue
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