XRP Defies Crypto Trend, Posts $5M Inflows Amidst $2.9B Outflows

In a week marked by significant outflows from digital asset investment products, Ripple's XRP defied the trend, posting substantial inflows while major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) experienced notable outflows. This divergence in performance can be attributed to several factors, including the Bybit hack, the Federal Reserve's hawkish stance, and the broader crypto market crash.

CoinShares' weekly report revealed a record-breaking outflow of $2.9 billion from digital asset investment products, extending a three-week streak of withdrawals totaling $3.8 billion. While BTC and ETH suffered significant outflows of $2.59 billion and $300 million, respectively, XRP bucked the trend with a substantial inflow of $5 million. Other assets like Solana and Ton also experienced outflows of $7.4 million and $22.6 million, respectively.

The US led the outflows, with a total of $2,874 million, followed by Switzerland, Canada, and Sweden. Meanwhile, XRP's notable performance has garnered attention, with some speculating that the token's positive sentiment is driven by the SEC's optimistic approach to XRP ETFs. The US SEC has acknowledged XRP ETF applications submitted by multiple asset managers, and President Donald Trump recently announced his decision to include XRP in the national reserve.

The crypto market has been volatile, with Bitcoin trading around a low of $85k last week. However, the market has since rebounded, driven by Trump's crypto reserve strategy. Bitcoin has surged to $93,366, while ETH and XRP reached $2,383 and $2.68, respectively. The overall market cap has increased to $3.06 trillion, up by more than 8%.