XRP Gains Momentum with $474 Million ETF Inflows
- XRP has seen net inflows of approximately $474 million from US ETFs over the past six months.
- As of September 2, XRP was trading between $1.32 and $1.33, marking a gain of about 23% to 24% over the previous month.
- A model projects a potential price range for XRP between $1.81 and $2.81, with a median outcome of $1.47.
- CME’s XRP futures averaged daily contracts of approximately 36,600 in Q2, generating a notional volume of $10.8 billion.
- Leveraged funds are currently net short on about 115.7 million XRP as CME open interest rose by nearly 40%.
The ongoing demand from ETFs alongside significant short positions creates a complex market dynamic for XRP, balancing bullish momentum against potential volatility in price movements.
With sustained ETF inflows contributing to its recent recovery, XRP’s target of $2.14 remains within reach if demand continues to strengthen beyond its August performance.
