It was a painful week, no matter how you look at it or which cryptocurrency asset you support. Ripple’s XRP, arguably one of the alts with the biggest and loudest community, was no exception, as it dropped hard.
However, there’s a silver lining for the asset, as the exchange-traded funds tracking its performance in the US still managed to close the week in the green, unlike almost all other major crypto ETFs.
XRP ETFs Still Ended in Green
We will begin by admitting that the actual numbers weren’t the greatest. It wasn’t anything close to the ETFs’ early weeks, in which they attracted $1 billion in just over a month after the launch of the first one. The week ended with a modest $2.62 million in net inflows, but it’s still much better than the funds tracking bitcoin, for example, which shed a massive $1.7 billion (yes, with a B).
The spot XRP ETFs had only one day in the red last week, with June 3 seeing $5.34 million in net withdrawals. However, the net inflows of $4.13 million on June 1 and $3.83 million on June 4 managed to offset the losses. The other two trading days saw little to no reportable action, with SoSoValue showing $0.00 against both.
Thus, the funds’ total cumulative flows continued to increase slightly and tapped a new all-time high at over $1.43 billion. Bitwise’s XRP has extended its lead over Canary Capital’s XRPC, as both ETFs now hold $467 million and $458 million, respectively.
XRP Price Still Plummeted
Despite the positive news on the ETF front, the underlying asset was not spared from the overall market-wide calamity. In a week in which BTC dumped from over $73,000 to $59,000, Ripple’s cross-border asset went from $1.33 to $1.05. This 21% crash meant that XRP has marked its lowest price tag since late 2024, just after its post-US presidential election rally began.
Although the asset slumped to just inches above the coveted $1.00 psychological level, its rebound has been quite modest, and it still trades below $1.10. Analysts remain hopeful about its long-term potential, but even the biggest believers, such as EGRAG CRYPTO, warn that a dip below $1.00 may be unavoidable at this time unless the broader market’s structure improves rapidly.
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