Exchange traded funds linked to XRP experienced a week of net outflows after the asset failed to sustain a breakout above the 1.45 dollar level.
Although the week started with positive momentum for spot XRP ETFs in the United States, the trend reversed toward the end of the week. As a result, the funds closed the week in negative territory for the first time since late January.
At the same time, the cryptocurrency itself struggled to maintain upward momentum after facing strong resistance and dropping below an important support level.
XRP ETFs See Weekly Outflows
Investment products tracking the performance of XRP, the fifth largest cryptocurrency by market value, have faced mixed activity in recent weeks. Earlier in the year, some trading days even recorded minimal movement, with data provider SoSoValue reporting no measurable inflows worth noting.
Despite that slow activity, the funds still finished all four weeks of February with positive net inflows, though the pace slowed toward the end of the month.
March initially began with stronger demand. The funds recorded net inflows of 7 million dollars on Monday, followed by 7.53 million dollars on Tuesday and a smaller 4.19 million dollars on Wednesday.
However, the trend reversed on Thursday when investors withdrew 6.15 million dollars from the funds. The situation worsened on Friday when outflows reached 16.62 million dollars. This marked the largest single day withdrawal since January 29 when investors removed about 92.92 million dollars.
Because of these withdrawals, the first trading week of March ended with a net loss of approximately 4.09 million dollars for XRP ETFs. Total cumulative inflows also declined to around 1.24 billion dollars after reaching a midweek peak of about 1.26 billion dollars.
Among the available funds, Canary Capital remains the largest issuer with its XRPC product leading the market. Meanwhile, Bitwise Asset Management has narrowed the gap with its own XRP ETF. The two funds currently hold about 266.11 million dollars and 265.42 million dollars respectively.
XRP Price Momentum Slows
The early week inflows and a broader market recovery initially helped XRP rise from its weekend low of around 1.27 dollars to roughly 1.47 dollars by Wednesday.
However, the rally lost strength after Bitcoin faced resistance near 74,000 dollars and ETF flows turned negative. XRP subsequently slipped back below the 1.40 dollar level.
Market analyst CryptoWZRD noted that the asset closed the period without a clear directional signal but suggested that the XRP and bitcoin trading pair could soon play a significant role in determining price movement. According to the analyst, XRP needs to stay above the 1.3820 level to maintain bullish momentum, although the token is currently trading slightly below that threshold.
Despite the recent pullback, some prominent supporters of XRP on social media continue to share ambitious price projections. One analyst known as Cobb recently stated that a potential move toward 4 dollars for XRP should not be considered unrealistic. #cryptonews https://t.me/coinsignalpublic https://coinsignals.net
