Main navigation

XRP Triples Funds Inflows in One Week, Remains Strong Despite Bear Market

Mon, 09/19/2022 - 16:12
article image
Gamza Khanzadaev
XRP contributes to inflows in crypto products with triple weekly increase
XRP Triples Funds Inflows in One Week, Remains Strong Despite Bear Market
Cover image via
Read U.TODAY on
Google News

Despite poor funds flows into crypto-oriented products, XRP has seen a three-fold increase in inflows, CoinShares reported. While the week before last saw a fund inflow of $100,000 into XRP-focused crypto products, this time it was already $300,000.

XRP remains one of the few cryptocurrencies products that has continued to attract funds for the past six weeks. Despite negative market dynamics and the ongoing SEC v. Ripple litigation, with regulators' plans to have XRP recognized as a security, the project continues to stay afloat.

Funds inflows into XRP-oriented products are also up $500,000 month over month. Year over year, the data is even better, with a surplus of $8.5 million.

Crypto assets flows last week

In addition to XRP, crypto products focused on Bitcoin, Short Bitcoin, Solana and Cardano also had positive funds flow values. The overall result of the week was a $7.3 million fund flow surplus, the first in the last six weeks.

Despite the positive values, the CoinShares analyst notes mixed sentiment on the crypto market, as well as a lack of engagement among investors. The same is reflected in the simultaneous inflow of funds to both Bitcoin itself and its Short variant.

In addition, it is worth noting the second in a row weekly outflow of $15.4 million from Ethereum, a reflection of investors' views on the blockchain's transition to the proof-of-stake consensus. Crypto enthusiasts remain cautious in the current market, the analyst highlights.

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.