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XRP ETF Hype vs On-Chain Reality: XXRP Inflows Crashed 98% in 3 Weeks | CoinGape
The crypto community has been awaiting the SEC to approve more altcoin exchange-traded funds, especially the spot XRP ETF. Being the fifth biggest cryptocurrency, with worldwide recognition and a focus on global transactions, Ripple’s token ETF is the most in demand, as presented on social media platforms. Still, the reality seems far from different as the inflows of XXRP, a futures XRP exchange-traded fund, keep crashing.
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XRP ETF Update: XXRP Inflows Crashed to Just $600k
Despite the high optimism around Teuncrium’s futures XRP ETF launch, the performance is poor. The XXRP ETF was launched in April and quickly grew to $100M plus in assets; however, the weekly charts present a constant decline in performance, resulting in a 98% crash in just three weeks.
The ETF reports reveal that it received $31M in inflows in the second week of May, $19.3M in the third week, and $12.1M in the last week. However, the number has crashed to $600k this week, showcasing a 14% drop in 5 days and 98% in three weeks.
Meanwhile, the Ethereum ETF inflows create new highs, showcasing the limited demand for Teuncrium one.
Although the drop came amid the broader crypto market crash, affecting the XRP price, it hints that the hype differs from reality.
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How Would the Spot XRP ETF Perform if Approved?
Due to the bullish performance of the Bitcoin and Ethereum exchange-traded funds, the demand is higher for the spot Ripple ETF. The Polymarket data reveals that investors are betting in favor of the SEC approving the Ripple ETF, with 93% odds.
However, the XXRP ETF inflows performance reveals that there’s a significant difference between hype and actual performance.
Additionally, the XRP price could crash below $2, as despite the hype, bear dominance is high, so there are also concerns around the exchange-traded fund’s performance post-launch.
Previously, experts anticipated the Ripple ETF (spot and leverage) to witness $2 billion in inflows, but now it is uncertain.
Moreover, the SEC has yet to approve the XRP ETF, so it’s difficult to conclude. Investors must await the SEC’s decision, which is due in June, before jumping to conclusions.
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Frequently Asked Questions (FAQs)
The XXRP inflows have declined 98% in three weeks, dropping from $31M to just $600k.
The decline in inflows is due to the broader crypto market correction and changing investor sentiments.
It is uncertain when the SEC will approve the spot XRP ETF, but the decision is due in June.
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