XRP has seen steady institutional participation in its ETF products for five consecutive weeks while Bitcoin and Ethereum struggle amid persistent negative flows.
Although the price of XRP continues to struggle amid the prolonged market volatility, the downtrend has barely impacted its ETF performance as its institutional investors appear resilient.
XRP logs $10.68 million in latest weekly inflow
The trend has been persistent for the past five weeks as XRP continues to record decent weekly inflows despite the prolonged market volatility.
Data from SosoValue shows that XRP has achieved a total net inflow of $10.68 million this time, following the fresh capital injected on three separate trading sessions during the week.
However, this is not the case for Bitcoin and Ethereum as they have both seen steady withdrawals from their ETF products on nearly all days of the week over the same period.
Bitcoin picking up pace yet?
Over the last week, Bitcoin has recorded a total ETF net outflow of $315.84 million. Meanwhile, Ethereum saw a more decent outflow of $14.91 million.
This suggests that XRP's dominance in the ETF market may be near its end as both the Bitcoin and Ethereum ETF markets are beginning to record lesser withdrawals, suggesting that the sell pressure from institutions is gradually fading.
Although the positive performance from the XRP funds has established XRP's dominance in the ETF market against both Bitcoin and Ethereum and other altcoins offering ETF products, the trend might be drawing closer to its end.
XRP price struggles
While XRP has continued to see multiple days of consistent intake of fresh capital, the funds have collectively maintained a green record of steady inflows for the past five weeks.
This trend has triggered curiosity among market participants as the positive ETF flows have been followed by consistent price decline due to the broader crypto market weakness.
U.Today Editorial Team
Dan Burgin
