XRP Funds Drain as Price Slides Near $1.11

XRP funds have seen a significant decline in investor interest in recent weeks. Between July 20 and July 24, U.S.-listed spot XRP funds pulled in $8.15 million, but this is their weakest month since April. In fact, the seven U.S. funds hold only $997 million against $1.49 billion in contributions since their launch last November.

The influx of capital was concentrated across two sessions, with Bitwise contributing $2.49 million on July 20 and Franklin Templeton's XRPZ fund adding $5.66 million the next day. However, this surge is not enough to move the price of XRP, which remains near $1.11.

Analyst Sam Daodu notes that XRP funds have absorbed roughly $12.4 million in July, their weakest month since April. This decline in investor interest may signal a bearish trend for XRP, with analyst Crispus Nyaga predicting a potential break below the $1 mark.