Despite the prevailing bearish market trends, XRP continues to outpace Bitcoin in weekly inflows. While digital asset investment products saw significant outflows in the fourth consecutive week, XRP marks remarkable gains.
XRP has surpassed not only Bitcoin but also Ethereum, signaling a shift in market sentiment. Let’s dive into the evolving market trends and explore how XRP is outpacing the top cryptocurrencies.
XRP Secures Inflows, Flips Bitcoin and Ethereum
XRP defied broader market trends, drawing significant investor interest with a notable inflow of $5.6 million. This substantial investment, as per CoinShares’ weekly data, underscores XRP’s growing appeal in the market.
Notably, digital asset investment products have witnessed a streak of significant outflows, with the current week marking the fourth consecutive week of substantial withdrawals. Over the past week, these products recorded an outflow of $876 million, taking the total net outflow to $4.75 billion.
Significantly, Bitcoin was the biggest loser in terms of weekly outflows. Bitcoin experienced significant outflows of $756 million last week. Meanwhile, short-Bitcoin investments also saw outflows of $19.8 million, indicating that investors may be nearing a state of capitulation. Ethereum followed Bitcoin with an outflow of $89.2 million. Cardano was also one of the losers with an outflow of $1.9 million.
Interestingly, Solana became the top gainer with a weekly inflow of $16.4 million. Closely following was XRP, which saw inflows of $5.6 million. Sui also gained attention with more than $2 million in weekly inflows.
What Drives XRP’s Positive Market Sentiment?
In recent weeks, XRP has garnered significant investor support, fueled by several key developments. These developments include the Securities and Exchange Commission’s (SEC) XRP ETF acknowledgements, Rpple lawsuit updates, and Donald Trump’s crypto reserve plans.
The SEC’s recognition of multiple asset managers’ XRP ETFs has invoked a positive sentiment across the community. In addition, increasing anticipations surrounding the Ripple lawsuit settlement have significantly contributed to the positive sentiment surrounding the token.
Triggered by President Donald Trump’s crypto reserve proposal that includes Bitcoin, XRP, SOL, and ADA as the country’s reserve assets, the Ripple coin gained notable attention. XRP’s significant inflows over the past week highlights its increasing investor demand and adoption.
Crypto Market Crash: How Top Cryptocurrencies Perform?
Today, the crypto market has seen a severe downturn, with top cryptocurrencies recording notable dips. Bitcoin is trading below $83k, marking a decline of 10% over the last week. Ethereum experienced a 10.61% plummet over the week, currently trading at $2,123.
Meanwhile, XRP is exchanging hands at $2.20, with a massive decrease of 17% over the last seven days. Though the Ripple coin hit a monthly high of $2.9 recently, the current crypto market crash pushed the price down.
During the period that saw key developments, XRP bucked the market trend, attracting investors even as top assets suffered massive outflows. Previously, when Bitcoin and Ethereum saw severe withdrawals of $2.59 billion and $300 million, respectively, XRP secured notable gains of $5 million.
Now, despite the downtrend, the token is showcasing remarkable investor sentiment with the 121.9% hike in the daily trading volume, at $7.69 billion. It needs to be seen if Ripple’s token will continue to attract investors on a similar pace. Traders remain keen to know how the token price will be impacted with the potential developments in the XRP ETF and Ripple lawsuit.
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