XRP Flips Bitcoin and Ethereum in Weekly ETF Flows Amid Fading Institutional Demand

The crypto market is still struggling to recover amid frequent volatilities, causing institutional investors to relent.

As momentum continues to fade rapidly, the broad crypto ETF market has been facing consistent withdrawals with little to no new capital intake.

Nonetheless, XRP has defied the negative trend on the ETF market this time, recording the only ETF inflow seen last week.

XRP dominates the ETF market with just $2.66 million 

According to data from SosoValue, only the XRP ETFs recorded net inflows last week.

While it was only a mild capital intake of $2.66 million during the week, larger funds providing Bitcoin and Ethereum exposures saw massive capital withdrawals.

The data revealed that Bitcoin ETFs recorded $296.18 million in weekly outflows, extending the negative momentum to two weeks straight of net outflows.

On the other hand, the Ethereum ETFs also recorded $206.58 million in outflows, suggesting weakening investor interest in the Ethereum-based investment product.

Unlike the first two largest cryptocurrencies by market capitalization, XRP ETFs managed to attract fresh capital, standing out as the only product with decent institutional interest over the week.

XRP eyes price rebound in new week

Although XRP has seen mild institutional demand on its ETF market over the past week, broader market sentiment remains negative as its price is faced with consistent downturns, and even the ETFs have continued to record poor performances.

While its price had recently retraced back to the $1.30 level, on-chain indicators suggest there might be a major price rebound ahead for XRP in the new week.

As of the time of writing, the asset has surged decently by 1.14% over the last 24 hours, and it is currently trading at $1.34. Market watchers are preparing for a major price move ahead.