Is the Ripple ETF Hype Over? Inflows Disappoint as XRP Fights for $1.40

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XRP went through intense volatility on Saturday, but it had nothing to do with the ETFs.

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

At the same time, the underlying asset continues to fight with BNB for the fourth spot in the cryptocurrency market cap ranking, but it sits inches below a crucial resistance.

Ripple ETF Inflows Still Missing

CryptoPotato has reported on several occasions on the diminishing activity on the XRP ETF front. The financial vehicles saw under $8 million in net inflows during the trading week that ended on February 13, and less than $2 million in the following one. Moreover, it had three days with zero inflows during this time, a streak that extended to February 23.

However, investors finally picked up the pace in the next four trading days, albeit in a very modest manner. The net inflows stood at $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 entering the funds.

This modest amount is in stark contrast to the initial boom. After the first XRP-focused ETF went live for trading in mid-November, investors were rushing to pour funds into it and the four more such products that followed. Consequently, the cumulative net inflows skyrocketed to the $1 billion mark within a month since Canary Capital’s XRPC saw the light of day.

Since then, though, the trend has seemingly changed. The total net inflows stand at $1.24 billion now, which means that only $240 million has entered the funds in over two months.

XRP Fights BNB

Saturday was an eventful day in the crypto markets due to the strikes against Iran and the subsequent retaliation. XRP was not immune as it dumped from $1.43 to $1.27 before it rebounded to its starting point after reports that Iran’s Supreme Leader was killed during the attacks.

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Popular crypto analyst CryptoWZRD noted that the asset had closed with a “dragonfly doji candle and respected the $1.30 daily support.” They believe XRP could continue higher only if it manages to close weekly above $1.3820. As of press time, the asset trades inches below that line. However, it has retaken its fourth place in terms of market cap from BNB after a quick flip on Saturday.

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Source: https://cryptopotato.com/is-the-ripple-etf-hype-over-inflows-disappoint-as-xrp-fights-for-1-40/