XRP ETFs Extend Streak as Price Nears Key Support Level

XRP-linked ETFs have recorded four consecutive weeks of gains, bucking the trend seen in Bitcoin and Ethereum spot ETFs. In May and June, XRP products outperformed their peers, with nine consecutive weeks of growth before a single week of net outflow in July.

July saw a turnaround for XRP-linked ETFs, with inflows reaching $6.78 million, $8.15 million, and then $14.86 million dollars over the next three weeks, totaling $27.29 million in net inflows by month's end.

However, recent data shows flows slowing at the start of August, with about one million dollars of actual inflows. This contrasts sharply with combined performance of Bitcoin and Ethereum ETFs, which attracted more than a billion dollars over the same period.

XRP's price has fallen to $1.04, close to its key support level at $1 dollar. Analysts are monitoring the strength of this level, with some scenarios suggesting a strong reversal if it holds above $1.