MEXCXRP Inflows Tanked 83%, But Still Won Against Most Altcoins – Here’s How
Highlights
- XRP inflows crashed 83% last week, but still had the second highest positive net flow.
- While XRP demonstrated resilience with $31.3 million in inflows, other altcoins suffered a total of $223 million in outflows.
- XRP positive news and the rumored end of the Ripple vs SEC lawsuit helped with the volatility.
The crypto market witnessed high volatility last week, resulting in the XRP inflows crashing. Amid multiple macroeconomic events and shifting investor sentiments, the digital assets suffered greatly, breaking multi-day price peaks and other milestones. Although the Ripple token suffered, it showed unexpected resilience compared to the rest of the altcoins.
XRP Inflows Crash 83% But Still Leads Altcoins
CoinShare’s Digital Assets Fund Flows weekly report reveals that the XRP inflows had crashed 83% the past week, as it dropped from a whopping $190 million to $31.3 million. Despite a crash, it is still in positive rankings, second in the weekly gainer report right behind Ethereum, which has $133.9 infows.
- Source: CoinShare’s Digital Assets Fund Flows weekly report
Speaking of the inflow of the week, Solana crypto products also survived the crypto market crash. It had $8.8 million in inflows, with $852 million in year-to-date. However, except for these, most altcoins saw heavy outflows, producing a $223 million outflow, reversing $883 million early-week inflows.
Meanwhile, Bitcoin led with a $404 million outflow, marking the worst performance since April. Notably, on the YTD net flows, it still stands strong at $20 billion in inflows. Besides Bitcoin, Sui and Litecoin also tumbled, contributing to the total outflow of $223 million.
Why Did XRP and Other Altcoins See Inflows Crash?
The inflows crashed mainly due to the hawkish Fed comments during the FOMC meeting and the unchanged interest rates. Additionally, the U.S. July job data raised concerns, coming in below expectations.
On August 1 alone, the outflows surpassed the $1 billion mark, showcasing a sharp capital exit. The new Trump tariff announcement, whale sell-off, and other factors also added to the volatility and chaos. The reciprocal tariffs will take effect on August 7, a development that could still affect the market in the coming days.
However, XRP has shown strength so far, as the White House crypto report and the SEC’s crypto project announcement pumped investors. Notably, the rumored August 15 deadline for the end of the Ripple vs SEC lawsuit also helped XRP win against the altcoins.
Frequently Asked Questions (FAQs)
1. Why did XRP inflows crash?
2. Despite the crash, why is XRP in the top gainers?
3. How did Bitcoin perform compared to XRP?
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