XRP ETFs Soar as Bitcoin and Ethereum Funds Suffer Net Outflows

XRP exchange-traded funds (ETFs) have seen significant inflows in recent days. According to Pluang, on September 8, XRP ETFs recorded net inflows of $1.55 million. This makes them the top-performing asset among 12 spot crypto fund groups that day.

Meanwhile, Bitcoin and Ethereum ETFs experienced a combined outflow of $71.6 million, marking their first simultaneous decline since July 9. Despite this, both assets still hold positive gains for September overall. The price of XRP rose by 4.06% to around $1.44 on the news.

Ripple's XRP Ledger (XRPL) has been at the center of some controversy recently. However, a recent statement from asset manager 21Shares clarified that Ripple operates only one validator out of approximately 35 on the XRPL network. This means Ripple cannot unilaterally change XRPL rules or reverse transactions.