XRP Spot ETFs See Strongest Single Day in Seven Months

XRP spot ETFs saw a significant influx of $28.14 million on August 26, marking the strongest single day in over seven months, according to Coinpedia.

The Bitwise XRP ETF (NYSE:XRP) traded at $15.64 as of August 28, down 4.1% from its previous close of $16.31, and the price drop is still ongoing.

The influx, however, may not be a strong indicator of demand. A positive inflow number does not necessarily mean that institutions are buying XRP, but rather that more shares were created than redeemed.