Crypto
XRP Price Soars Despite Slowing Bitcoin ETF Demand
The price of XRP has continued to rise, despite a modest pullback in recent days. The asset is currently trading at $1.41, which represents a 27% increase over the past month.
However, the bigger story may not be XRP's price action, but rather the decline in demand for Bitcoin exchange-traded funds (ETFs) and altcoin funds. According to data from Coinglass, Bitcoin ETF inflows slowed to $987 million during the week ending September 4, a 6.7% increase from the prior week.
Meanwhile, Ethereum, Solana, XRP, and Hyperliquid products saw their inflows collapse between 73% and 96%, with XRP funds dropping from $110.5 million to just $19 million in five trading days.