XRP Leads Institutional Inflows Amid Market Volatility
- XRP topped institutional inflows into large digital assets, despite a $173 million net outflow in the past week.
- Standard Chartered reduced its XRP price target from $8 to $2.80, citing recent market volatility.
- Goldman Sachs reported holding XRP worth $153 million as part of over $2.36 billion in crypto exposure.
- Grayscale noted XRP as the second-most actively discussed asset among institutional clients, following Bitcoin.
- XRP is down approximately 20% year-to-date, with assets under management in related funds declining from nearly $1.6 billion to just above $1 billion since January.
The cryptocurrency market has seen four consecutive weeks of outflows totaling $3.74 billion, primarily driven by withdrawals from Bitcoin and Ethereum products. Despite this trend, XRP’s growing institutional interest highlights a divergence in capital flows amidst broader market challenges.
With Standard Chartered’s revised forecast and ongoing institutional demand for XRP, the asset remains a focal point despite the overall market downturn reflected by significant outflows from major cryptocurrencies like Bitcoin and Ethereum.
