Main navigation

XRP Interests Traditional Investors, Funds Flows up 33% in Seven Days

Mon, 03/20/2023 - 15:26
article image
Gamza Khanzadaev
Funds inflows to XRP from traditional investors soar by 33% in one week
XRP Interests Traditional Investors, Funds Flows up 33% in Seven Days
Cover image via
Read U.TODAY on
Google News

According to a fresh weekly report from CoinShares on funds flows into crypto-oriented investment products, inflows into those tied to XRP rose by more than 33% in the past week. In the past seven days, they have reached $400,000, which brings the year-to-date net flow figure to $1 million.

420 Million XRP Bought by Massive Whales as Price Braces for Next Move

Only investment products focusing on Polygon (MATIC), Solana (SOL) and Short Bitcoin — which are betting on a fall in the BTC price — were able to show the same result or better. This is despite the fact that there have now been $177 million outflows from this sector of the financial markets since the beginning of the year, which represents 40.87% of the total net flows for the whole of 2022.

No negative sentiment

Interestingly, outflows from crypto-oriented investment products continued despite the fact that the previous week ended with Bitcoin up 27.17% and total crypto market capitalization up $157.9 billion.

XRP Scam Alert: India's Major News Channel Hacked to Promote Fake Airdrop Featuring Ripple CEO

As CoinShares analyst James Butterfill reports, it is likely that such investor behavior is due to a need for liquidity rather than negative sentiment toward the market on investors' part. The need itself arose as a result of the banking crisis that engulfed regional financial institutions in the U.S. at the beginning of March, he notes.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.