XRP ETFs See $1.84 Million Outflow, Ending 13-Week Inflow Streak

XRP ETFs See First Weekly Outflow in Months, Ending 13-Week Streak

US-listed spot XRP exchange-traded funds (ETFs) experienced their first net weekly outflow in 13 weeks, recording $1.84 million in withdrawals for the trading week of October 12-16. This marks a pause in a period of sustained positive inflows that began in July.

The reversal, however, was modest. XRP ETFs saw flat performance on Monday and Tuesday, followed by a gain of approximately $740,400 on Wednesday. The funds then shifted into negative territory, with a withdrawal of about $104,500 on Thursday. Friday’s activity, which included a $2.47 million outflow attributed to Canary Capital’s XRPC product, pushed the weekly total into net negative territory.

The timing of this outflow coincided with XRP trading around the $1.30 mark, a level that has drawn attention amidst broader cryptocurrency market volatility. However, the flow data does not specify the reasons behind shareholder decisions, whether they were driven by price action, portfolio adjustments, or other factors.

The significance of this development lies in the interruption of the 13-week streak of positive inflows, rather than the magnitude of the withdrawal itself. Cumulatively, these XRP ETF products have attracted around $1.8 billion in net inflows by October 16. Against this substantial backdrop, the $1.84 million weekly outflow represents a relatively minor shift in investor positioning. Analysts suggest that a sustained period of negative flows over the coming weeks would be necessary to indicate a significant change in market sentiment. For now, the data points to a temporary dip in demand rather than a collapse.