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The newly released market report from CoinShares has proven that institutional investors favored XRP as an asset class in the past week. In line with the renewed positive sentiment on the market, crypto fund flows topped $224 million. XRP led the inflows, outpacing Bitcoin and Solana in a unique twist.
XRP leads inflows
Per the data from CoinShares, XRP accounted for $119.6 million of the $224 million inflow, marking over 53% of the total. Bitcoin followed closely with $107 million as short Bitcoin products account for $16 million in inflows.
Not every asset saw inflows as Ethereum recorded more than $52 million in outflows. This was, however, offset by the $34.9 million inflow in Solana and the short Bitcoin flow.
The weekly inflow marked a gradual shift from monthly performance, in which the market has recorded a cumulative $218 million in outflows. Bitcoin led the losses with $145 million, followed by $89.1 million in Ethereum and $500,000 in XRP.
XRP has proven to be a favored asset on the crypto market, explaining potential capital from its ETF offerings.
The backing it has received thus far from investors has shown its price has a positive basis for long-term growth.
Crypto Market Outlook and capital reflux
With varying macroeconomic constraints, the crypto market has recorded significant capital exits in the past few weeks.
However, recent data shows investors are returning. Spot Bitcoin ETF products recorded more than $470 million in inflows to kickstart the week as investors eye a price rebound.
As of writing time, the price of Bitcoin is down by 1.47% to $68,360, and XRP has shed more than 2.9% in 24 hours to trade at $1.306.
Capital inflow through funds and ETFs remains a positive way to kickstart the rebound. The strength from XRP’s investors is a sign that the altcoin may lead a potential price rebound if the trend is sustained.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov
