XRP Sees Higher Daily Inflows Than Bitcoin and Ethereum ETFs

XRP has been outperforming Bitcoin and Ethereum Exchange-Traded Funds (ETFs) in terms of daily inflows, with the US spot XRP-ETF reporting a significant net inflow of $12.84 million on Friday, marking the 13th consecutive day of growth. Franklin led the way with an addition of $5.7 million to its assets, followed by Bitwise with $3.76 million. Grayscale and Canary also saw gains of $2.04 million and $1.34 million, respectively. The total cumulative inflow of funds has now reached $887.12 million, according to SoSoValue data.

Institutional demand for XRP seems to be on the rise as total inflows have reached approximately $900 million since its debut in mid-November, with over 400 million tokens currently locked up. If this trajectory continues, total net assets could surpass $1 billion in about a week, allowing XRP to surpass similar Bitcoin and Ethereum-based products in terms of growth rates during comparable periods.

While XRP’s inflows have been impressive, technical indicators for the token have worsened. XRP is currently trading below all major short- and medium-term moving averages, and the relative strength index (RSI) sits at 44, signaling fading momentum.

Overall, the data suggests that investors are increasingly turning to XRP as an attractive investment option, leading to significant inflows into XRP-ETFs. This trend may continue if XRP’s performance remains strong and institutional interest in the token persists. While XRP faces technical challenges in the short term, its long-term prospects seem promising as it attracts more investors seeking exposure to the cryptocurrency market.