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XRP ETF Inflows Hit 4-Month High: What’s Next for Ripple’s Price?

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The spot exchange-traded funds tracking the second-largest non-stablecoin altcoin fell out of investors’ grace in March but returned with impressive numbers in April, which became their best month since December.

At the same time, the underlying asset has failed to post any significant gains, even though it was finally slightly in the green in April, and the question is what’s next.

Ripple ETFs Back in Green

The spot XRP ETFs enjoyed a record-setting streak in their initial couple of months. The first $1 billion was attracted in about a month since the November 13 debut of Canary Capital’s XRPC, and there was not a single day with more net outflows than inflows until January 7.

However, the growing global uncertainty led to an evident decline in investors’ interest, as the net inflows fell from $500 million in December to $15.6 million in January. February was slightly better, with $58 million being poured in, but March broke this streak as it became the first month in the red, with over $31 million in net outflows.

Moreover, there were multiple days of zero reportable activity, according to SoSoValue. Although there were a few such days in April as well, the month ended well in the green, with $81.59 million in net inflows. This is the best monthly performance since December, even though the actual number for April is far behind the November and December records.

On the more positive side, the total cumulative inflows set a new all-time high at $1.3 billion on April 29 before a slight reduction on April 30.

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

XRP Price Struggles

It’s worth noting that the underlying token has dumped hard after the launch of the spot XRP ETFs. It traded well above $2.40 on the debut day but now fights to stay above $1.40.

Popular crypto analyst BATMAN noted earlier that XRP is now down to a ‘make-or-break’ level, which could determine its next big trend. XRP continues to test the trendline, and the analyst predicted a more profound decline if it decisively falls below it. On the flipside, they noted that XRP is “resting nicely on its bullish trendline,” which could propel it further if it continues to trade above it.

Meanwhile, fellow analyst CW said XRP is showing a “boring trend,” but the upside potential in the futures market is “still increasing.” They predicted a massive explosion in this accumulated potential once this “tedious boring ends.”

Pos XRP ETF Inflows Hit 4-Month High: What’s Next for Ripple’s Price? muncul pertama kali di CryptoPotato.

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