XRP Rockets With Jaw-Dropping 338% Surge in Weekly Fund Inflows

In a whirlwind week for the crypto market, CoinShares’ latest report unveils a staggering 338% surge in weekly fund inflows for XRP-oriented investment products. 

The data reveals a remarkable increase, with inflows skyrocketing from $800,000 to an impressive $2.7 million in just one week.

This surge has propelled the net flows in XRP ETPs to $3.6 million since the start of December, outpacing even Ethereum (ETH) by $2 million. However, XRP still falls short in comparison to Solana (SOL), the altcoin that takes the lead in this figure with $156 million.

Rotation

Last week’s performance marked a milestone for XRP, with an extraordinary gain of 338%. The digital asset investment products landscape, however, tells a contrasting tale. Overall, there were minor outflows totaling $16 million, ending an 11-week streak of inflows.

Bitcoin bore the brunt of this trend, witnessing $32.8 million in outflows, while Short Bitcoin ETPs also experienced minor outflows amounting to $300,000.

In a noteworthy twist, altcoins, spearheaded by XRP, Solana (SOL) and Cardano (ADA), emerged as the backbone of the crypto market, reinforcing a trend witnessed in recent weeks. The data suggests that investors might not be abandoning these instruments altogether but are instead engaging in a strategic rotation of funds from Bitcoin to altcoins.

What is funny, though, is that the main altcoin, ETH, did not escape the market dynamics unscathed, witnessing outflows of $4.3 million in the past week.

This shift in investment patterns raises questions about the evolving preferences of cryptocurrency investors and the potential impact on the broader market.