Institutional Demand Fails to Lift XRP Price Amid Oversold Indicators

XRP-backed exchange-traded funds (ETFs) have been pulling in significant amounts of money, with $27.29 million flowing in last month alone.

This marks a fourth consecutive month of net inflows, with cumulative XRP ETF inflows now sitting at approximately $1.5 billion - the largest total among altcoin products.

Despite this steady buying pressure, the price of XRP has continued to slide, down roughly 40% since the start of the year.

The reason for this disconnect between institutional demand and price action is attributed to several factors, including a specific seller - Grayscale's chief executive Peter Mintzberg, who filed to sell XRP ETF shares at half their earlier value.

Additionally, momentum indicators suggest that XRP has reached its most oversold readings on record, leaving traders divided on whether the sell-off has finished.