XRP ETFs Conclude Eight-Day Outflow With $4.64M Inflow

TLDR

• On March 17, XRP exchange-traded funds (ETFs) saw $4.64 million in new investments, breaking an eight-day streak of withdrawals.
• This period of outflows had previously led to $56.82 million being withdrawn from XRP ETF offerings.
• With this recent influx, total net inflows rose from $1.2 billion to $1.21 billion.
• The Bitwise XRP ETF was solely responsible for the day’s entire $4.64 million inflow.
• Other spot XRP ETFs reported no movement during the trading session on March 17.

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(SeaPRwire) –   On March 17, XRP exchange-traded funds (ETFs) concluded an eight-day period of capital withdrawals by attracting new investments. These products registered $4.64 million in daily inflows, thereby reversing a week of previous losses. This change occurred on the same day that the price of XRP experienced its initial daily drop since March 12.

XRP ETFs End Eight-Day Outflow Streak

XRP ETFs ceased their most extended period of outflows since their inception, recording new inflows on March 17. According to Sosovalue data, the funds gained $4.64 million in a single day. This represented the first positive flow since March 4, concluding eight consecutive sessions devoid of inflows. Over the preceding period, these products experienced $56.82 million in outflows. These withdrawals decreased cumulative net inflows from $1.26 billion to $1.2 billion. The recent injection of capital subsequently raised the total back to $1.21 billion.

Previously, XRP ETFs had drawn in $28.25 million between February 24 and March 4. Nevertheless, the trend shifted after March 4, nullifying those earlier gains. Subsequently, the funds experienced eight consecutive days of capital withdrawals. Sosovalue data corroborated this reversal, noting, “XRP ETFs recorded $4.64 million in inflows on March 17.” The data indicated that a single fund was responsible for the entirety of this daily increase.

The Bitwise XRP ETF (XRP) was responsible for the entire $4.64 million inflow on March 17. Other related products reported no flows on that particular day. Specifically, the Franklin XRP ETF (XRPZ), the Canary Capital XRP ETF (XRPC), the Grayscale XRP Trust ETF (GXRP), and the 21Shares XRP ETF (TOXR) registered no activity. Prior to this, TOXR had seen a $-5.98 million outflow on March 16, and XRPZ experienced a $-6.08 million outflow on March 12.

The eight-day period of outflows negated all gains accumulated during the preceding seven-day inflow period. That earlier phase had attracted $28.25 million before the market trend reversed. The overall cumulative net inflow currently totals $1.21 billion. Sosovalue data emphasized that only the Bitwise product showed any activity on March 17, with the remaining four spot XRP funds exhibiting no change during the session.

XRP Price Records First Daily Loss Since March 12

On the very day ETFs registered inflows, the price of XRP moved in the contrary direction. The asset made an effort to surpass $1.60 on March 17 but was unsuccessful. Consequently, it recorded its initial intraday loss in six days. Prior to this downturn, XRP had posted gains on seven out of eight days. This upward trend began after XRP fell to $1.32 on March 8.

Following its low on March 8, XRP climbed by 16.6%, reaching $1.54. This recovery mirrored wider gains across the cryptocurrency market. Nevertheless, the price trajectory shifted on March 17. The ETF inflow coincided with the day the asset registered that daily loss. Sosovalue documented a $4.64 million inflow on that specific date.