$XRP ETFs Hit Six-Month Green Streak Amid Sell-Dominant Futures Market

XRP ETFs have been on a tear for six months now, raking in significant monthly net inflows. In August, they saw the largest influx of $159.18 million, and September is following closely with $117.44 million added so far.

This brings total net assets to $1.77 billion, according to SoSoValue. However, a closer look at the futures market reveals some cause for concern. CryptoQuant's 90-day taker CVD showed sell-dominance earlier in the month, and while it has since turned red, this could indicate profit-taking.

The funding rates have been mostly positive but have dropped significantly into negative territory on occasion, with a notable dip of -0.018 in mid-September. Despite most traders leaning long, short bets are becoming increasingly common.

Meanwhile, the $XRP ledger itself has seen an uptick in activity. Active addresses rose to 29.9K, the highest in half a year, and reserves on Binance have also increased, currently standing at 2.695 billion $XRP.