The spot exchange-traded funds tracking Ripple’s cross-border token keep shining bright even when markets feel shaky 🖤 with only one quiet day of nothing to report over the past week unlike those earlier stretches.
The Good Weekly And Monthly 🌑
Data from SoSoValue reveals Monday and Wednesday brought modest net inflows with both days pulling in just under $600000. The green streak picked up speed toward the week’s close as $6 million flowed in on Thursday followed by $7.7 million on Friday. Thus the week closed at $14.86 million in the green for the strongest tally since the period ending July 2 which drew $17.19 million. Monthly figures show $27.29 million poured into spot XRP ETFs leaving July in positive territory overall. The funds even hit another all-time high with cumulative net inflows topping $1.5 billion by Friday’s close. Bitwise’s XRP now leads Canary Capital’s XRPC at $511 million versus $467 million in net inflows 💸.
The Bad 🕸️
July wrapped in the green yet the $27.29 million in net inflows ranked as the second-worst month only ahead of January’s $15.59 million. June looked stronger near $60 million while May climbed close to $132 million. November’s record $666.61 million still stands untouched.
The Ugly 🔮
July recorded the highest number of days with no reportable net flows precisely 11 out of 22 trading days according to SoSoValue which hints at fading interest amid those softer inflows. The underlying asset’s price keeps disappointing despite fresh positive ripples across the broader ecosystem 📉. XRP held the $1.05 support over the weekend but lingers below $1.10 down more than 3% for the month. August carries a historically painful track record for the token in past cycles 💀.
Just another echo from the void by iconofsin.eth 💖
