Ripple ETFs Defy Mass Exodus Trend but XRP Price Fails to Capitalize
During a very turbulent and painful week for most exchange-traded funds tracking the largest digital assets, those following XRP’s performance continued to see only green. At the same time, though, the underlying asset failed to break out and even dipped to a multi-month low before it posted a minor recovery today. Ripple ETFs Defy the Trend The previous business week saw notable net inflows for the spot XRP ETFs of just over $22 million.
This extended the weekly streak that began in May, making them three in a row now. Moreover, the last single day of more outflows than inflows, according to SoSoValue data, was on April 30. While $22 million doesn’t sound as impressive as some of the previous Ripple ETF inflows, it’s worth noting that it came during a week in which the funds tracking BTC and ETH bled out heavily.
25 billion leaving the funds. The Ethereum ETFs saw a net withdrawal of $216 million, which was slightly less than the previous week’s $255 million. Moreover, the ETH ETFs haven’t seen a single day in the green since May 8.
5 million, while the two HYPE funds attracted over $72 million as the underlying asset outperformed and rocketed to a new all-time high of just over $63. 42. 42.
30. 55. 35.
Ali Martinez, though, warned that XRP has broken out of its rising trend line of a symmetrical triangle on the daily chart. 40 level soon. The post Ripple ETFs Defy Mass Exodus Trend but XRP Price Fails to Capitalize appeared first on CryptoPotato .
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