First XRP wagers by investors since the beginning of the year


According to the most recent data by CoinShares on the flow of money into cryptocurrency-oriented investment products, XRP concluded last week with $300,000.

So, this was the first occasion since the start of the year that XRP-centric products garnered investor capital. Remember that $3 million was poured into such products on January 9 and then back out in the weeks that followed.

Since the beginning of the year, there have been no net inflows of capital into XRP-focused investment products. Given the cautious outlook of conventional investors on the crypto market and the current legal battle between the SEC and Ripple, it is vital to examine this outcome. Other cryptocurrencies, with the exception of Ethereum (ETH), likewise have a value of 0 in the year-to-date column.

Despite positive money flows into XRP, the crypto market had the highest withdrawals in the preceding week since December 2022.

Since February 13, cryptocurrencies-related items have been available. The worst impacted were Bitcoin (BTC), Ethereum (ETH), and multi-asset ETFs. Nevertheless, according to a CoinShares analyst, the midweek outflow was at one point $62 million, but by the end of the week, investor confidence had dramatically recovered.

Intriguingly, the outflows peaked during the time of the week when Bitcoin rose by more than 10 percent and then dropped by half after the local bottom was far behind.

Also Read: Cardano (ADA) Sees Massive Price Increase Over the Next 18 Months as Ecosystem Expands Exponentially

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