XRP Price Moves with ETF Trading Hours, Momentum Builds Slowly

TLDR

• XRP has seen strong inflows from four newly launched ETFs, totaling $586 million.
• Despite the ETF launches, XRP’s price has not experienced the expected surge.
• Market commentator Chad Steingraber observed slight price increases during U.S. ETF trading hours.
• XRP’s price surged 10.39% within seven hours during U.S. trading hours on November 24.
• The recent price recovery is attributed to broader market trends rather than ETF inflows alone.

XRP’s recent surge in exchange-traded fund (ETF) products has not led to the price explosion many expected. Despite attracting $586 million in net inflows, XRP’s price remains volatile. Four spot XRP ETFs have been launched in recent weeks, drawing interest but not yet triggering major price movements.

XRP ETFs See Strong Inflows Despite Limited Price Action

The XRP ETF market has expanded with four products launched over the past month. The Grayscale and Franklin products launched on November 24, joining the earlier Canary Capital and Bitwise ETFs. Together, these funds have attracted $586 million in inflows, surpassing the total inflows of Solana ETFs, despite being introduced later.

However, XRP’s price has not seen a substantial surge despite these inflows. Following the launches, XRP’s price has dropped with the broader market. While the price has increased by more than 8% over the past 24 hours, this recovery is largely due to a wider market rebound rather than ETF inflows alone.

XRP Price Moves in Sync with ETF Trading Hours

Market commentator Chad Steingraber has observed a trend between XRP’s price movements and ETF trading hours. According to Steingraber, XRP’s price tends to rise slightly at the beginning of U.S. trading hours. He noted that this pattern often occurs during ETF trading, making the performance of the XRP ETFs look better than it might be.

A closer look at market data from November 24 supports Steingraber’s observations. XRP’s price dropped from $2.08 to $2.06 between 1:30 PM and 2:30 PM (UTC), before recovering sharply after U.S. trading began at 2:30 PM. Between 2:30 PM and 8:30 PM, XRP rose from $2.07 to $2.285, marking a 10.39% increase within seven hours.

Despite the moderate price fluctuations during trading hours, Steingraber suggests that these movements could build momentum for future price increases. He claims that these gradual gains could create the conditions for a larger price surge in the coming months. Steingraber believes that ETFs could enhance XRP’s global utility and liquidity, potentially driving its price higher.

XRP’s performance during trading hours suggests that ETFs may help support its value. However, the ultimate price explosion many market participants have expected has yet to materialize.

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