Spot ETFs linked to XRP have just had a fourth positive week. This dynamic contrasts with several more cautious signals that have recently appeared in the market. After a month of July marked by net inflows, flows slowed down significantly at the beginning of August. At the same time, the token’s price moved closer to important support at $1. Investors are now monitoring the strength of this threshold, as analysts consider several scenarios for the next step.
In brief
- XRP ETFs record fourth consecutive week of gains.
- July ended with $27.29 million in net inflows.
- Flows slow in early August, with only about $1 million in entries.
- XRP price has retreated towards $1.02, close to the key $1 support.
XRP ETFs extend their positive streak
In May and June, spot Bitcoin and Ethereum ETFs saw heavy outflows, sometimes in the billions of dollars. However, products linked to XRP have resisted this general trend better. They had then lined up nine consecutive weeks of gains, despite a single negative week marked by a net outflow limited to $35,210 according to a report from CryptoPotato.
July then began under pressure, with over $7 million in net withdrawals in the first full week. However, investors returned in the following three weeks. Admissions reached 6.78 million, 8.15 million then 14.86 million dollars. In total, ETFs ended July with a net inflow of $27.29 million.
Flows that slow down at the beginning of August
Despite this monthly performance, recent data calls for more caution. July represents the second lowest month in net inflows since January for the affected ETFs. The start of August remains positive, but the amounts remain modest with around a million dollars in real inflows.
This development stands in stark contrast to the combined performance of Bitcoin and Ethereum ETFs, which attracted over $1 billion. Of the five sessions observed, two recorded no flow. On Wednesday, investors withdrew $3.58 million, while inflows of $1.15 million on Monday and $3.45 million on Thursday only offset some of the outflows.
The price amounts to testing a key support
Meanwhile, the price of XRP pulled back this week and moved closer to a major technical level. The token is as low as $1.04 at the time of writing, very close to support at $1. This decline comes as the vote on the CLARITY Act in the US Senate was postponed, adding additional pressure to the market.
Despite this decline, some analyzes maintain a positive reading for the future. According to their scenario, staying above 1 dollar could encourage a marked reversal. The rapid reconquest of $1.05 is also a level monitored to confirm this hypothesis. Other projections even suggest a target of $50 during a next bullish phase, but this perspective remains very ambitious at this stage.
The next development will therefore depend on the capacity of the support to hold and the resumption of flows. If inflows remain weak, the advance could lack lasting support. Conversely, a sharper return of capital and a crossing of $1.05 would strengthen the scenario of a recovery. For the moment, the available data mainly shows a market divided between resistance of the XRP ETFs and weakness in the price.
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