$1.1 million in funds flow into XRP as investor confidence in Ripple’s win grows
According to crypto analytics portal CoinShares, XRP-focused investment products registered an inflow of $1.1 million. According to analyst James Butterfil, who noted the event, the influx of funds could fuel investor enthusiasm about the outcome of the litigation between Ripple and the SEC: in favor of the crypto company.
Month on month, the number of inflows into XRP-oriented funds is the same, $1.1 million. Year to year, however, the value is larger at $11 million. In addition to XRP, Solana (SOL) and Polygon (MATIC) have also attracted attention and funds from investors. Interestingly, both projects are now in the midst of a battle for a place in the top 10 cryptocurrencies by market capitalization.
Last week in digital asset fund flow
Looking at the larger assets, Bitcoin and Ethereum, there is a breakout in the patterns and a clear shift in sentiment. After seven weeks of inflows from BTC-oriented investment funds, there was an outflow of $13.2 million last week. Meanwhile, outflows were recorded in funds betting on falling BTC via short bitcoin offerings. Meanwhile, an outflow of $7.1 million in funds betting on BTC that fell through short bitcoin offerings was also recorded.
With Ethereum, the situation also turned 180 degrees as altcoin-oriented products recorded their first recent inflow of $2.7 million. Overall, the week ended with an outflow of $15.6 million from crypto-oriented products.
