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XRP ETF Inflows Top $38M as Price Tests Critical Support Level
XRP ETFs Experience Significant Inflows
- Spot XRP exchange-traded funds (ETFs) saw inflows of $38 million on December 8, surpassing inflows for other top assets like Bitcoin, Ethereum, and Solana.
- XRP ETFs have recorded 16 consecutive days of inflows since their launch, indicating strong institutional interest.
- The XRP price is currently testing support at $2.04 despite the substantial ETF inflows.
Comparison with Other ETFs
- Total net flow for Bitcoin ETFs was negative $60 million.
- Ethereum ETFs had inflows of $35.49 million, while Solana ETFs saw $1.18 million in net inflows.
21Shares' Upcoming XRP ETF Launch
- Asset manager 21Shares plans to launch its own XRP ETF, having submitted S-1 documentation to the SEC.
- The management fee has been adjusted from 0.50% to 0.30%, awaiting further regulatory approval.
XRP Price Analysis
- Analyst CasiTrades highlights XRP's retest of the macro 0.5 Fibonacci support level near $2.04.
- A break above $2.41 could indicate a bullish trend, while falling below $2.04 might target $1.73 and $1.64.