One negative day outweighed the rest of the week.
Spot XRP exchange traded funds enjoyed a strong start after launch, pulling in more than one billion dollars and posting positive flows on most trading days.
That momentum slowed earlier this year. While the pattern was first interrupted on January 7, the funds have recorded only three sessions with net outflows overall. One of those occurred last week and it had a major impact.
Developments Last Week
The first three trading days of the week were mildly positive. The five ETFs tracking XRP attracted 7.76 million dollars on Monday, followed by 9.16 million on Tuesday and 6.95 million on Wednesday.
Conditions changed sharply on Thursday as the broader crypto market sold off after the US Federal Reserve paused interest rate cuts and geopolitical tensions increased in the Middle East. Investors withdrew 92.92 million dollars from the XRP funds in a single day, according to SoSoValue data.
Flows improved on Friday, with 16.79 million dollars added back into the ETFs. Even so, the heavy losses from Thursday pushed the week into negative territory. Total weekly outflows reached 52.26 million dollars, marking the worst performance since the first XRP ETF launched in mid November. Cumulative net inflows dropped from a peak of 1.26 billion dollars to 1.18 billion dollars by Friday’s close.
XRP Price Decline
The ETF outflows, combined with the broader market downturn, weighed heavily on XRP’s price. The token is down more than 11 percent compared to last weekend and fell to 1.70 earlier this week, its lowest level since early October when it briefly traded below 1.60.
Despite the drop, some analysts remain bullish. Ali Martinez suggested a rebound could follow if XRP holds above the 1.70 support level, noting that the TD Sequential indicator has recently issued a buy signal.
