XRP Spot ETFs Break 36-Day Net Inflow Streak: What's Next for the Price?

Source: CryptoNewsNet Original Title: XRP Had Done What Bitcoin and Ethereum Couldn’t! But the 36-Day Streak Was Broken! What Does This Mean for the Price? Original Link: Spot XRP ETFs, launched in November, have so far followed a different path than Bitcoin and Ethereum ETFs.

Since its launch, the market has consistently recorded net inflows with zero outflows. However, this has changed, and US XRP spot ETFs have seen net outflows for the first time since their launch.

According to SoSoValue data, US spot XRP ETFs recorded their first net outflow, ending a 36-day streak of net inflows.

On January 7th, five XRP funds experienced a total net outflow of $40.8 million.

The largest outflow was from the 21Shares TOXR fund, which saw a $47.25 million exit, while the Canary, Bitwise, and Grayscale ETFs also recorded net inflows of approximately $2 million.

Speaking to The Block, an analyst noted that the initial net outflow was a significant change, but the amount of outflow was less than 3% of cumulative inflows, so it wasn’t large-scale.

“The fact that XRP ETFs are seeing net outflows for the first time is a noteworthy change. However, outflows account for less than 3% of total inflows, so the scale is not large.”

The exit was likely due to profit-taking after the XRP price rose from $1.8 to $2.4 in a week, coinciding with a broader market correction.

XRP holdings on exchanges were at an all-time low, while trading volume remained high, and various on-chain indicators pointed to potential bullish signals.

Historically low exchange reserves and high trading volumes, along with on-chain indicators, continue to point to underlying strength. If inflows resume, XRP could retest the $3 level.

“Historically low exchange reserves and high trading volumes, along with on-chain indicators, continue to point to underlying strength. If inflows resume, XRP could retest the $3 level.”

*This is not investment advice.