XRP has outperformed Bitcoin and Ethereum again in weekly ETF performance, marking three consecutive weeks of XRP dominance in the sector.
Despite the broad crypto market weakness, XRP has extended its long streak of investor demand for the third week, recording a total of $15.20 million in new capital over the last week.
Bitcoin and Ethereum funds under pressure
While XRP saw a positive weekly performance, Bitcoin and Ethereum have remained under pressure as their ETFs saw steady withdrawals throughout the week.
According to data from SosoValue, Bitcoin ETFs recorded a massive $1.42 billion in total weekly outflow, while Ethereum ETFs saw $241.45 million in outflow during the same period.
Following institutional participation seen over the past weeks, it appears that XRP has continued to attract fresh capital while Bitcoin and Ethereum bleed out.
XRP becomes strongest performing crypto ETF
Since April 30, XRP ETFs have continued to see steady influx of new capital every day of the week, except for just a few days when the funds saw neutral activity with neither withdrawal nor inflow.
As such, XRP ETFs have not recorded any net outflow in nearly one month, signaling increased confidence in XRP's long-term outlook, especially among institutions.
Bitcoin and Ethereum on the other hand are witnessing steady ETF withdrawals, as both cryptocurrencies have continued to record consecutive withdrawals each day of the week since May 15.
Ethereum's downtrend is more prolonged as its steady streak of ETF withdrawals began on May 11; the funds have not achieved any inflow since then.
With XRP maintaining a long streak of positive inflows amid notable outflows from the two largest cryptocurrencies by market capitalization, XRP has proven itself as the strongest-performing crypto ETF in recent weeks.
Dan Burgin
