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XRP Price Rallies as Spot ETFs Record Massive $164M in Fresh Inflows

Michael Adeleke
3 hours ago
Michael Adeleke

Michael Adeleke

Crypto Journalist
Expertise : Cryptocurrency, Blockchain, DeFi
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Fresh $164M inflows boost XRP ETFs, lifting the XRP price

Highlights

  • XRP price rebounds with an 8% rally.
  • This comes after after spot XRP ETFs recorded $164 million in single-day inflows, the second-largest since launch.
  • Analyst Chad Steingraber predicts XRP ETFs may replicate Bitcoin’s billion-dollar inflow days.

The XRP price recorded an increase after its recent downturn. This comes as the newly launched spot ETFs saw inflows of up to $164 million yesterday. This is the second largest single day influx the funds have recorded since it began trading.

ETF Issuers Attract $164 Million of Fresh Capital as XRP Price Recovers

According to SoSoValue data,  spot XRP ETFs pulled in $164 million in net inflows on November 24. This marks one of the biggest single-day totals since launch.

Source: SoSoValue

Grayscale’s GXRP led all issuers with $67.36 million after launching yesterday. Franklin Templeton’s XRPZ followed closely with $62.59 million. 

This increase is the seventh day in a row that it has seen inflows. It is also the second-largest inflow day since Canary’s launch.

Franklin launched its XRP ETF (XRPZ) just yesterday and is already seeing great investments. Canary is ranked 231st globally with over $84 million in ETF assets but is still gaining strong interest. Its XRPC fund has now reached $306 million in total investments since it started on November 21.

These investments has boosted the XRP price. According to CoinMarketCap, the token’s value has gone up by more than 8%.

Source: CoinMarketCap; XRP Daily Chart

Analyst: XRP ETFs Could Mirror Bitcoin’s $1B Inflow Days

Crypto analyst Chad Steingraber said this is only the beginning of the momentum for XRP ETFs. He compared it with how Bitcoin ETFs performed when they were starting. According to Steingraber, several months after launch, BTC funds had multiple days on which inflows reached $1 billion.

If XRP ETF products follow the same pattern, with 12 active funds, a cumulative $1 billion day would require just over $83 million per fund, he estimated.

His projections suggest that if there’s a five-day run of billion-dollar inflows, more than 2.2 billion XRP could be absorbed from the market in less than seven days. According to Steingraber, this could boost the XRP price.

Meanwhile, several more XRP ETFs are due to be launched in the coming days. 21Shares received automatic approval from the SEC via an 8-A filing. Its XRP ETF will start trading on the Cboe BZX Exchange in the next few days.

Also, CoinShares updated its S-1 filing to disclose its intended ticker and key details ahead of its Nasdaq debut. The fund has already appeared on the DTCC platform which means it’s ready for launch.

Steingraber says if the current rate of inflows persists, the available circulating supply of XRP could be taken up in under a year. In his view, participation from large asset managers like BlackRock could reduce that time frame to less than six months. 

“The only variable that changes the equation is price,” he said. “The XRP price must move significantly higher to balance demand.”

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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