In the United States, the demand for spot XRP ETFs seems to have completely vanished, with no net inflows recorded over the past week. Nevertheless, this underlying token still managed to achieve some gains during the week, peaking at $1.45.
XRP ETF Investor Exodus
On January 29, the XRP ETF experienced a massive capital withdrawal totaling $92.92 million, while the net inflow for the entire month of January was only $15.59 million, far below November's $666.61 million and December's $500 million.
As February began, capital inflows showed signs of recovery, with a total net inflow of $58.09 million for the month. However, the market still emitted warning signals, with several trading days recording zero net inflows. Data from last week indicated that net inflows on March 11 and March 13 were both zero. Additionally, in three other trading days, capital also flowed out, with $18.11 million leaving on Monday, $3.88 million on Tuesday, and $6.08 million on Thursday.
This negative trend continued into the previous trading week. In fact, since March 4, there have been no net inflows.
XRP Price Gains Stifled
Despite the significant capital withdrawals, XRP's price performed reasonably well over the past week, rising from a low of $1.34 on Monday to a multi-week high of over $1.45. However, the price faced resistance at $1.45 and is currently struggling below $1.40.
Analysts reiterated today that XRP's current triangular consolidation is nearing a critical point, with expectations of a 30% price movement.