TLDR XRP ETFs experienced a record $53.32 million outflow on Tuesday due to escalating geopolitical tensions. The outflows marked the worst trading day for XRP-TLDR XRP ETFs experienced a record $53.32 million outflow on Tuesday due to escalating geopolitical tensions. The outflows marked the worst trading day for XRP-

XRP ETFs See Record Outflows as Geopolitical Tensions Hit Ripple Price

TLDR

  • XRP ETFs experienced a record $53.32 million outflow on Tuesday due to escalating geopolitical tensions.
  • The outflows marked the worst trading day for XRP-focused ETFs since their launch.
  • XRP’s price surged to over $2.40 in early January but quickly dropped below $2 after the outflows.
  • The cumulative net inflows into XRP ETFs decreased from $1.28 billion to $1.22 billion in a single trading session.
  • Ripple’s price faced significant downward pressure, dipping as low as $1.84 on some exchanges.

XRP ETFs experienced a massive outflow on Tuesday, marking the largest withdrawal since their launch. This sudden shift occurred amidst rising geopolitical tensions, which also hit the cryptocurrency market harder than other sectors. The market faced significant pressure as investors pulled out their funds, particularly from XRP-focused ETFs, leading to a noticeable downturn in XRP’s price.

XRP ETFs See Major Outflows Amid Geopolitical Tensions

XRP ETFs saw $53.32 million in outflows on Tuesday, their worst trading day to date. The ETF flows had been consistently positive until then, with net inflows remaining above $1 billion in recent weeks. The market responded sharply to increasing geopolitical instability between the U.S. and the European Union, which triggered the massive withdrawal.

This dramatic shift resulted in XRP ETFs’ cumulative inflows dropping from $1.28 billion to $1.22 billion in a single session.

The sudden pullback emphasized how sensitive the cryptocurrency market has become to external factors, especially when investor sentiment is volatile.

XRP Price Faces Pressure After Strong Start to January

XRP’s price had soared to a multi-month high of $2.40 on January 6, rising nearly 30% in a short period. However, this positive momentum quickly reversed, with the asset losing key support levels in the following days. XRP dipped below the $2.00 mark on Monday, reaching $1.84 on some exchanges.

After this significant dip, XRP struggled to maintain its position above $1.90. During a midnight sell-off, the cryptocurrency dropped to $1.86, further signaling the asset’s bearish trend. The loss in price correlates with the outflows from XRP ETFs, reflecting investor concern about the ongoing market volatility.

The combination of geopolitical uncertainty and the recent pullback in XRP ETFs has left the market in a delicate state. XRP’s future performance remains tied to both broader market trends and developments within the cryptocurrency space. For now, the asset continues to face downward pressure as it struggles to regain its footing above $1.90.

The post XRP ETFs See Record Outflows as Geopolitical Tensions Hit Ripple Price appeared first on CoinCentral.

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