Here's an overview of the events that took place in the ETP market last week, but with eyes on XRP and BTC.
“This turn in sentiment didn’t trickle down to altcoins with only very minor inflows into XRP and Solana totaling US$0.24m and US$0.17m respectively.”There was, however, a noteworthy occurrence with BTC and XRP during the same week. On several occasions, theHowever, the difference between both metrics was not marginal. And at press time, XRP’s volume was 815 million while BTC was 13.62 billion.Such a high trading volume for BTC meant there was strong buying pressure.
For XRP, the demand was not entirely significant to push the value above board. Consequently, it only managed a slight increase in the last seven days, which has turned into a 1.44% fall.To end, the introduction of Bitcoin-leveraged ETFs has surely had an impact on the inflow of funds into XRP. Subsequently, some investors who might have previously allocated funds to XRP may now be directing their investments toward Bitcoin ETFs instead. This might remain the case unless some notable development changes with XRP.
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