Exchange-traded funds continue to attract massive capital, recording their eleventh consecutive day of positive flows in the US market. According to recent data from SoSoValue, the XRP ETF has captured institutional attention consistently, accumulating millionaire figures since its official launch in November, underscoring growing demand in the current financial environment.
On Monday, $89.65 million was added to these products, bringing total cumulative inflows to an impressive figure of $756 million. This volume has taken total assets under management to 723 million, demonstrating that investor appetite has not stopped since the debut of these instruments on November 13, maintaining a constant positive streak.
Currently, there are four active funds, where Canary’s XRPC on Nasdaq leads with $350 million in cumulative net inflows. Meanwhile, Bitwise’s product follows closely with 170 million, absorbing together nearly 330 million XRP tokens in the last eleven days, surpassing even the flows recently observed in Solana-based products.
Globally, exchange-traded products also experienced their largest recorded inflows, attracting $289 million last week. James Butterfill, head of research at CoinShares, attributed this surge to the recent launch of multiple investment vehicles in the United States, highlighting the shift in stance towards digital assets and the renewed confidence of major market players.
Will institutional interest be able to break technical resistance and drive the price towards 3 dollars?
Furthermore, major investment management companies like Vanguard are expected to allow their 50 million clients to trade these funds. This massive access could catalyze greater adoption in the short term, reversing previous stances and facilitating the entry of traditional capital into the cryptocurrency ecosystem starting this Tuesday, which is a fundamental milestone.
From a technical perspective, the bullish divergence on the daily chart suggests that bearish momentum is rapidly exhausting in the market. Analysts point out that the relative strength index is forming higher lows, a classic signal that often precedes a trend reversal and a possible significant price rally, incentivizing traders to buy the dips.
If the asset manages to overcome the key resistance between $2.20 and $2.50, the path towards $3 would be totally cleared. Indicators like the TD Sequential project even a potential rise towards $5.60, provided that current support is maintained and the influx of institutional capital continues, offering an optimistic outlook for the end of the year.
