The inflows of XRP exchange-traded funds expand with the stability of institutional طلب.
Interest in XRP exchange-traded funds in the U.S. has continued to improve since their initial launch in mid-November. Currently, there are four XRP exchange-traded funds operating in the United States: XRPC from Canary Capital, XRP from Bitwise, GXRP from Grayscale, and XRPZ from Franklin Templeton.
Overall, XRP exchange-traded funds recorded inflows of approximately $35 million on Tuesday, bringing the cumulative volume to $622 million and net assets to $645 million.
ETF inflows help gauge market sentiment, as incoming flows support a bullish market, while outgoing flows indicate bearish expectations.
XRP fund statistics traded on the exchange.
On the other hand, the demand for retail has remained relatively low, as the open interest for futures (OI) has not stabilized above $4 billion since November 11. According to CoinGlass data, the average open interest, which tracks the notional value of outstanding futures contracts, was $3.96 billion on Wednesday, down from $4 billion the previous day.
The trading volume of XRP futures contracts reached a record level of $10.94 billion on July 22, just days before the token hit an all-time high of $3.66. This highlighted the growing appetite for risk in XRP derivatives and boosted the overall risk-taking sentiment.
However, a steady decline in the OI index coincided with the price drop to $1.82 on Friday. If the weakness in retail demand continues, it will be difficult to maintain the recovery, and XRP is likely to trade under pressure.
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CryptoLoverArtist
· 11-27 00:10
Nice analysis
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The inflows of XRP exchange-traded funds expand with the stability of institutional طلب.
Interest in XRP exchange-traded funds in the U.S. has continued to improve since their initial launch in mid-November. Currently, there are four XRP exchange-traded funds operating in the United States: XRPC from Canary Capital, XRP from Bitwise, GXRP from Grayscale, and XRPZ from Franklin Templeton.
Overall, XRP exchange-traded funds recorded inflows of approximately $35 million on Tuesday, bringing the cumulative volume to $622 million and net assets to $645 million.
ETF inflows help gauge market sentiment, as incoming flows support a bullish market, while outgoing flows indicate bearish expectations.
XRP fund statistics traded on the exchange.
On the other hand, the demand for retail has remained relatively low, as the open interest for futures (OI) has not stabilized above $4 billion since November 11. According to CoinGlass data, the average open interest, which tracks the notional value of outstanding futures contracts, was $3.96 billion on Wednesday, down from $4 billion the previous day.
The trading volume of XRP futures contracts reached a record level of $10.94 billion on July 22, just days before the token hit an all-time high of $3.66. This highlighted the growing appetite for risk in XRP derivatives and boosted the overall risk-taking sentiment.
However, a steady decline in the OI index coincided with the price drop to $1.82 on Friday. If the weakness in retail demand continues, it will be difficult to maintain the recovery, and XRP is likely to trade under pressure.
XRP Open Futures Contracts Chart