XRP rallies as ledger activity surges — even as ETFs suffer over $50 million in outflows
XRP's price rose nearly 10% as network activity increased, despite over $50 million in outflows from XRP ETFs.Summary
XRP experienced a significant rally, gaining almost 10% in the past week, while investment products linked to the token saw their largest monthly outflows of the year, exceeding $50 million. This surge coincided with a substantial increase in XRP Ledger activity, including new wallet creation, daily active addresses, and completed payments, with the network surpassing 7.7 million non-empty wallets. Evernorth highlighted a tripling of daily transactions. Institutional investors are reducing their XRP exposure, with CoinShares reporting $133 million in outflows this month and US spot XRP ETFs experiencing continuous outflows since March 5, totaling approximately $58 million. Despite this institutional retreat, retail investors are driving price action, and XRP's open interest shows signs of recovery. Analysts note a lack of sell orders between $1.50 and $2.00, suggesting potential for further price increases if ETF outflows decrease and broader market conditions improve.
(Source：CryptoSlate)