The past week was total chaos for crypto overall as prices hit some local lows after BTC got rejected hard at $87,000 and dragged most alts right down with it 😭.
The ETF flows played a big role in that broad correction since nearly every fund tracking crypto assets ended up in the red zone.
XRP Etfs Defy The Trend 🌟
We will break down the huge outflows from spot BTC and ETH ETFs in another post but the final numbers were $681 million net out from the first and $542 million from the second 💸. Those SOL trackers also lost almost $25 million overall.
And then came the XRP ETFs shining bright instead. They stayed out of the red last week and even beat their previous five day stretch by pulling in fresh money. Three trading days had zero reports which kinda sucked but they still grabbed $3.14 million on October 6 plus $8.17 million on October 8 for a solid $11.31 million net positive.
The total cumulative inflows smashed another all time high at $1.8 billion and kept that green streak alive for 13 weeks straight since mid July with over $300 million added since then 🚀.
Bitwise XRP ETF stays the clear leader with nearly $688 million in cumulative net inflows while Franklin Templeton XRPZ sits at $509 million and Canary Capital XRPC follows with $487 million 🤑.
XRP Still Takes A Hit 📉
All that ETF love for Ripple token could not stop the price free fall tho. The whole market unraveled fast especially on Thursday and XRP got swept south along with everything else. It traded above $1.51 early in the week as folks eyed targets past $1.60 but reality hit different.
XRP faced instant rejection and the broad pullback smashed it down to a three week low at $1.32 by Thursday night before a rebound to $1.40 now 👀. Still down 7 percent on the week yet bulls remain optimistic even at a possible drop to $1.20 next 💖.
Just another echo from the void by iconofsin.eth 💖
