Why is XRP flat despite record ETF inflows?

Spot XRP ETFs recorded a new all-time high in cumulative net inflows after investor demand returned in April. 

Data from SoSoValue showed total net inflows rising to $1.29 billion by the end of the latest business week. The funds added $15.74 million during the week ending April 24. April inflows reached $81.63 million, making it the strongest month for XRP ETFs since December.

XRP ETFs had a strong start after launching in mid-November. The funds quickly crossed the $1 billion mark and avoided net outflow days for nearly two months.

That trend changed in March as market uncertainty pushed some investors away from risk assets. March became the first negative month for XRP ETFs, with more than $31 million leaving the products.

The return of inflows followed easing geopolitical tension linked to the US-Iran ceasefire. The week ending April 17 recorded the highest weekly net inflow in three months.

XRP price fails to follow ETF demand

XRP has not matched the renewed demand for spot XRP ETFs. The token recently faced rejection near $1.46 after earlier failing to hold a move toward $1.60.

At the time of the report, XRP traded near $1.43. The price showed little change from the previous week, despite fresh ETF inflows and stronger market interest.

Market analyst Crypto Tony described XRP’s recent price action as “boring few months.” The token has traded between $1.20 and $1.60 for more than 60 days.

Exchange outflows raise rally hopes

XRP also saw large exchange outflows in the latest market data. Nearly 35 million XRP reportedly left exchanges within 24 hours, marking the sixth-largest outflow this year.

Some analysts view large exchange withdrawals as a possible sign of lower sell pressure. Similar spikes in February and March came before 20% to 50% XRP rallies, according to the report.

However, XRP still needs a clear breakout above its recent range to confirm stronger momentum. Analyst Ali Martinez has offered a more bullish long-term view, but said XRP could first drop toward $0.90 before any larger move.