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Zero Net Inflows All Week: Ripple (XRP) ETFs Lose Investor Momentum

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The demand for the spot XRP ETFs in the United States has seemingly evaporated as the funds have not seen a single day of net inflows for over one whole week.

Nevertheless, the underlying token managed to post some gains over the past week before it was halted at $1.45.

XRP ETFs See Investor Exodus

The exchange-traded funds tracking the performance of the cross-border token enjoyed their initial honeymoon period that lasted roughly a month, in which they attracted over $1 billion in cumulative net flows. However, they began to slowly disappear from investors’ radar. The first two warning signs were observed on January 7 and 20 when $40.80 million and $53.32 million were pulled out of the funds.

January ended with another mass withdrawal of $92.92 million on January 29, and the overall month was just slightly in the green – $15.59 million; a figure significantly lower than the $666.61 million seen in November and $500 million in December.

February picked up the pace, as the total monthly inflows stood at $58.09 million. However, more warning shots were seen as there were days with zero net inflows. Such trading days returned in the previous week – SoSoValue shows $0.00 reportable inflow data for March 11 and March 13. Moreover, the other three trading days were in the red, with $18.11 million leaving the funds on Monday, $3.88 million on Tuesday, and $6.08 million on Thursday.

This negative streak extends to the previous business week. In fact, the funds have not seen a green day since March 4.

Ripple (XRP) ETF Flows. Source: SoSoValue
Ripple (XRP) ETF Flows. Source: SoSoValue

XRP Price Ascent Halted

Despite the investor exodus, XRP’s price fared rather well in the past week, jumping from a Monday low of $1.34 to a multi-week peak of just over $1.45. However, it was stopped there and now struggles below $1.40.

Its most recent price moves have been contained in a relatively tight trading range, which has prompted many analysts to suggest that there’s a big move in the making. Ali Martinez, for example, noted a few days ago that XRP’s Bollinger Bands have been squeezing, hinting at a major breakout soon.

He doubled down earlier today, saying that XRP’s current triangular consolidation is approaching its tipping point, with a 30% price move brewing.

Публикацията Zero Net Inflows All Week: Ripple (XRP) ETFs Lose Investor Momentum appeared first on CryptoPotato.

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