XRP and SOL ETF Demand Plummets with Over 94 Percent Drop in Inflows

The past week saw a sharp decline in demand for XRP and Solana (SOL) exchange-traded funds (ETFs), with inflows dropping by more than 94%. While the spot XRP ETFs maintained their streak of positive net flows, the actual numbers were concerning. The weekly inflows plummeted from $75.59 million the previous week to just $4.74 million, marking a 94% decline. The week started with $4 million in inflows on Monday, but demand evaporated on Tuesday and Wednesday, with no inflows recorded. The streak ended on Friday with $3.28 million in net outflows, the first red day since September 18.

Meanwhile, the price of XRP faced rejection twice during the week, dipping to $1.45 on Friday before recovering to fight for the $1.50 level. The spot Solana ETFs experienced an even more dramatic drop, with inflows slumping by over 97% from $188.22 million the previous week to just $2.43 million. Despite a strong start with $12.70 million in inflows on Monday and $5.44 million on Tuesday, investors reversed their stance on Wednesday and Thursday, leading to a significant decline. Friday saw a slight recovery with $1.30 million in inflows, helping to save the weekly inflow streak.

The price of SOL also took a hit, jumping above $123 midweek but crashing to under $118 on Friday. However, it has since recovered to reclaim the $129 level as of the latest update.