- XRP attracts inflows as Ethereum, Bitcoin bleed
- XRP sentiment slips, but it’s all bullish
The group of five XRP spot ETFs that have launched since Nov. 13, notably those from Canary, 21Shares, Grayscale, Bitwise and Franklin Templeton have surpassed $1.12 billion in cumulative total net inflow as of Dec. 22, according to Sosovalue.
XRP enthusiast JacktheRippler spotlights this milestone in a recent tweet, implying it to mean that institutions are accumulating XRP.
According to Sosovalue, total net assets across spot XRP ETFs have surpassed $1.25 billion, a remarkable indication of institutional interest.
XRP spot ETFs have attracted net inflows every trading day since their debut, sustaining an unbroken 33 day inflow streak. This separates them from Bitcoin and Ethereum ETFs that saw several sessions of outflows in recent weeks.
While Bitcoin ETFs have seen outflows in several sessions since the past month, XRP funds, by comparison, have attracted smaller but more consistent inflows.
XRP attracts inflows as Ethereum, Bitcoin bleed
According to the most recent CoinShares data, digital asset investment products recorded outflows for the first time in four weeks, totaling $952 million. The U.S. alone saw $990 million in outflows. This reflected a negative market reaction to delays in passing the U.S. Clarity Act, alongside concerns over continued selling by whale investors.
Ethereum saw the largest outflows, totaling $555 million, given it has the most to gain or lose from the Clarity Act, while Bitcoin saw $460 million. The opposite is seen for XRP, which rather continued to attract inflows coming in at $62.9 million, indicating selective investor support.
XRP sentiment slips, but it’s all bullish
According to Santiment, XRP is seeing far more negative social media commentary than average. It notes that, historically, this setup leads to price rises, adding that when retail has doubts about a coin’s ability to rise, the rise becomes significantly more likely.
XRP is trading down 1.41% in the last 24 hours to $1.88, extending its drop into the third day from a high of $1.95 on Dec. 20.
Amid the price drop, Santiment observes that XRP sentiment has slipped back to negative. However, this presents a silver lining: A sentiment drop into the bearish zone increases the likelihood of a strong price increase.
Source: https://u.today/112-billion-in-five-weeks-xrp-community-reacts-to-etf-milestone
