Key Insights:
- In the latest XRP news, Ripple Coin records $69.4 million in inflows, doubling from the previous week.
- Crypto funds saw $1.9 billion in inflows, with Bitcoin leading with $977 million.
- Analysts suggest waiting for more liquidations as XRP price tumbled below $2.80.
Crypto funds recorded inflows of $1.9 billion from institutional investors last week, while flows into Ripple coin XRP doubled. This has created headlines in the XRP news column, while boosting the market sentiment amid the current dip.
Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominated buying by investors amid the 25bps Fed rate cut, as per a digital asset fund flows report on Monday.
XRP News: Ripple Coin Inflows Rise Over 69 Million
Institutional interest in Ripple Coin (XRP) and Solana (SOL) continues amid accumulations by institutions. While whale accumulation remained missing, institutional investments are driving the inflows into XRP.
XRP saw $69.4 million in inflows last week, up from $32.5 million in the previous week. According to Glassnode, XRP saw rising open interest, signalling renewed leveraged engagement and growing appetite for directional exposure.
Year-to-date (YTD) inflows increased to $1.51 billion, which boosted total assets under management (AuM) to $3.01 billion.
The REX-Osprey XRP ETH launch remained the primary reason behind the increase in Ripple coin inflows. In other XRP news, the ETF under the Investment Company Act of 1940 recorded $37.7 million in volume on its first day.
Crypto Funds Record $1.9 Billion in Inflows
Crypto funds saw $1.9 billion in inflows, reported CoinShares on September 22. The crypto funds recorded their second consecutive week of inflows, taking total assets under management (AuM) to hit a new all-time high of $241 billion.
According to the report, inflows into Bitcoin, Ethereum, Solana (SOL), and XRP were low ahead of the “hawkish rate cut” by the U.S. Federal Reserve.
Inflows picked up later in the week, with $746 million on Thursday and Friday as the U.S. SEC passed generic listing standards for crypto ETFs.
Bitcoin reversed the recent course amid altcoin season sentiment and led inflows in crypto funds, with $977 million. Short-Bitcoin investment products continued to face challenges, recording $3.5 million in outflows.
Meanwhile, Ethereum saw $772 million in inflows, increasing from $645 million in the previous week. Year-to-date inflows hit a record $12.6 billion, taking the total AuM to an all-time high of $40.3 billion.
Inflows into Solana also continue, with $127 million of capital entering the crypto asset. Institutional demand for Solana stayed high in anticipation of spot Solana ETF approval by the US SEC.
Advancing institutional interest, major DeFi integrations, and bullish sentiment were driving factors for the Solana ecosystem.
XRP Price Loses Momentum Amid Selloffs by Whales
Ripple coin price tumbled 5% in the past 24 hours, trading at $2.80 at the time of writing. The 24-hour low and high for XRP price were $2.78 and $3, respectively.
Trading volume jumped 122% in the last 24 hours, indicating interest among traders as short positions seemingly rise.
Analyst CrediBULL Crypto suggested a wait-and-watch strategy, with no clear setup as XRP price slipped under key support levels. Other analysts such as Ali Martinez have reiterated the need to climb above $2.90 for further upside run.
CoinGlass data showed massive selling in the derivatives market. At the time of writing, the total XRP futures open interest has crashed more than 12% to $7.75 billion in the last 24 hours.
XRP futures open interest on CME and Binance fell more than 5% and 11% in the last 4 hours, respectively. This signals bearish sentiment among derivatives traders.