Spot XRP ETFs booked a fourth straight week of net inflows, but the pace of buying has thinned since the spring. XRP itself slid to $1.02 on Friday, nearing its key $1.00 support, as delayed CLARITY Act voting in the US Senate weighed on the token.
Spot exchange-traded funds tracking XRP, the sixth-largest cryptocurrency by market cap, recorded a fourth consecutive week of net inflows. The pace of buying, however, has thinned since the spring, and fresh warning signs are piling up.
Inflows slow after a nine-week streak
During May and June, months in which the spot Bitcoin and Ethereum ETFs bled out heavily, often in the billions of dollars, the XRP funds defied the broader slump with nine consecutive weeks of net inflows. The lone red week, in early May, brought a net outflow of just $35,210.
July opened poorly: the first full week brought over $7 million in net withdrawals. Then the bulls returned over the next three weeks, pouring in $6.78 million, $8.15 million, and $14.86 million, closing the month with net inflows of $27.29 million. Yet a closer look shows that month ranked as the second-weakest for net inflows since January.
August inflows thin next to Bitcoin and Ethereum
August has also opened in the green, but the gains are modest: the funds have pulled in just $1 million so far this month. Over the same stretch, the Bitcoin and Ethereum ETFs attracted over $1 billion combined.
Two of the five trading days recorded no reportable flows at all, and investors withdrew $3.58 million on Wednesday. Net inflows of $1.15 million on Monday and $3.45 million on Thursday barely offset that outflow.
XRP slides toward the $1.00 support
The weak ETF data did not help XRP's price this week. The token also felt pressure from delayed CLARITY Act voting in the US Senate, and fell to $1.02 on Friday, inching close to its key $1.00 support level.
Source: CryptoPotato
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