The post XRP ETFs Beat BTC, ETH, and SOL Funds appeared on BitcoinEthereumNews.com. Home » Crypto News Despite the positive inflows, XRP’s price fell below $1.The post XRP ETFs Beat BTC, ETH, and SOL Funds appeared on BitcoinEthereumNews.com. Home » Crypto News Despite the positive inflows, XRP’s price fell below $1.

XRP ETFs Beat BTC, ETH, and SOL Funds

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Despite the positive inflows, XRP’s price fell below $1.55 once again before more volatility ensued.

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Summarize with AI


Summarize with AI

In times of heightened uncertainty, rapidly evolving geopolitical situations, and volatility in the US government, investors have shown markedly different behavior toward the spot crypto ETFs.

While those with exposure to the world’s largest cryptocurrency have been consistently pulling funds out of them, the XRP alternatives actually outperformed their counterparts with a strong daily net inflow yesterday.

XRP Outmatches Competition

Data from SoSoValue shows that the spot Bitcoin ETFs have been predominantly in the red for the past several weeks. February 2 was a proper exception, with more than $560 million entering the funds. However, the previous business week saw more than $1.4 billion in net outflows. February 3 was another painful trading day, with $272 million being pulled out.

Given the cryptocurrency’s recent price decline, ETF investors’ holdings have dipped below their average cost basis for accumulated BTC for the first time in 18 months.

The other crypto ETFs tracking larger-cap altcoins, though, were in the green. The spot Ethereum ETFs attracted $14.06 million; the SOL funds saw a minor net inflow of $1.24 million; and the XRP products outperformed the rest with a net gain of $19.46 million. In total, the Ripple ETFs saw more daily inflows than all other crypto funds combined yesterday.

In fact, this was the XRP ETFs’ best day since January 5, when net inflows reached $46.10 million. The cumulative net inflows into the Ripple funds is up to $1.20 billion, which is still slightly below the $1.26 peak recorded before the January 29 crash.

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Spot XRP ETF Inflows. Source: SoSoValue

XRP’s Volatility

Yesterday was another highly eventful and volatile trading day in the cryptocurrency markets. Perhaps due to the growing tension in the Middle East and the partial reopening of the US government, or to ETF inflows and outflows, BTC fell to a yearly low of $73,000 before rebounding to over $76,000 as of press time.

The altcoins went through similar fluctuations. Interestingly, XRP dropped to $1.53, then rose to $1.63 before settling at $1.60 as of now. This means that the token is down by almost 17% weekly and 25% monthly. It was brutally rejected at the $2.40 high reached on January 6, and has failed to stage any sort of sustainable recovery since then.

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Source: https://cryptopotato.com/xrp-etfs-beat-btc-eth-and-sol-funds-yet-ripples-price-still-struggles/

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