XRP ETF Demand Holds Firm Through Turbulent Week
The past week saw spot XRP ETF products experience net inflows of $9.56 million, marking their tenth consecutive week of positive flow.
This trend continued despite a tumultuous week that included a failed Senate vote on the CLARITY Act, a Federal Reserve rate hike, and a sharp intraday move in XRP's price.
The CLARITY Act, which aimed to improve market structure for crypto assets, did not advance in the Senate, leading some to speculate about its impact on XRP. However, according to SoSoValue data, there was no immediate outflow from spot XRP ETFs following the vote's failure.
The week saw a mix of inflows and outflows, with $11.26 million entering spot XRP ETFs on the day before the Senate vote, followed by $3.50 million in net inflows on Wednesday, which coincided with the Fed rate hike. However, Thursday brought $5.15 million in net withdrawals, dragging the cumulative total down to around $1.71 billion.
XRP's price has since recovered from its multi-month low near $1.28, currently trading at $1.47 and up nearly 7% over the past 24 hours.