Crypto
XRP ETF Flows Slow as Token Grapples with $1 Support
XRP spot exchange-traded funds (ETFs) have experienced their fourth consecutive week of net inflows, but the numbers are paltry. In fact, a net $1 million flowed into XRP ETFs in the first full week of August, according to CoinMarketCap data.
Meanwhile, Bitcoin and Ethereum spot ETFs saw massive inflows over the same period, pulling in more than $1 billion combined. This sharp deceleration has raised concerns about the sustainability of institutional demand for XRP ETFs.
Ripple's August token allocation may help alleviate some selling pressure on XRP. The company returned 700 million XRP to escrow, leaving just 300 million XRP in circulation from that tranche. However, this hasn't translated into sustained price appreciation yet.