XRP ETF Inflows Plunge 93% as Institutional Demand Weakens

XRP's price is under pressure as institutional demand appears to weaken, even while Bitcoin and Ethereum are attracting stronger ETF inflows.

Weekly XRP ETF inflows reportedly plunged 93% to just $1.01 million, down from $14.86 million a week earlier, with total XRP ETF net assets slipping to about $964 million from $988 million.

This makes XRP the weakest performer among major crypto ETFs, in contrast to Bitcoin and Ethereum which saw significant inflows - $754 million for Bitcoin and around $195 million for Ethereum, almost seven times the previous amount.

On-chain data shows large XRP wallets holding roughly 100 million to 1 billion tokens increased their supply share from 10.6% to 11.99%, while smaller whales holding 10 million to 100 million XRP sold earlier before turning back to buying on August 6.