XRP spot ETFs have achieved a significant milestone, crossing the $1 billion mark in total inflows, signaling robust interest from investors. This surge in assets marks a notable achievement for these newly launched cryptocurrency funds, which have seen a consistent influx of capital over the past two weeks.
The largest contributor to this inflow is the Canary XRP ETF (XRPC), which alone has attracted around $349 million. Following closely is the Teucrium 2x Long Daily XRP ETF (XXRP), boasting approximately $247.4 million in assets. Additional products from Volatility Shares, including XRPI with $162.7 million and XRPT with $125.1 million, have also made their mark in this burgeoning market.
As reported by TheBlock, the total inflow across various XRP ETF products has reached $1.095 billion, reflecting 13 consecutive days of new investments. Other notable ETFs include the REX-Osprey XRP ETF (XRPR), which has $111.3 million, and ProShares” Ultra XRP ETF (UXRP), controlling $78 million. Grayscale”s XRP ETF (GXRP) currently shows $12.7 million, while Purpose Investments” XRP ETF (XRPP.U) has $6.7 million. The smallest on the list is the Franklin Templeton XRPZ ETF, with $2.4 million, yet it continues to exhibit steady activity since its launch.
In the last 24 hours, XRP experienced a price decline of 1.22%, landing at $2.04. This drop aligns with a broader bearish sentiment in the cryptocurrency market, where Bitcoin is currently trading below $90,000, impacting various altcoins negatively. Nevertheless, analysts suggest that a rebound may be on the horizon, with some indicating that XRP could be showing a potential TD Sequential buy signal, despite resistance near $2.50 and support around $2.00.
On December 4, the momentum of ETF activity continued, with spot XRP ETFs garnering $12.84 million in new inflows, led by contributions from Franklin Templeton, Bitwise, and Canary among others. This indicates that investors are actively engaging with these products. Since their launch in mid-November, these ETFs have secured over 400 million XRP tokens.
New entries into the XRP ETF market are also emerging. 21Shares has recently received SEC approval to launch its spot XRP ETF under the ticker TOXR. Additionally, REX Shares and Tuttle Capital have introduced a 2x leveraged XRP ETF, providing traders with a higher risk and reward trading option. Early innovators like Canary and Bitwise have played pivotal roles in pushing this category forward.
