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.