XRP ETFs Reach $60 Million Despite Price Decline
- XRP-linked exchange-traded funds reached approximately $60 million in assets under management as of December 17.
- The spot price of XRP was around $1.86, marking a decline of over 8% in the past week.
- The number of non-empty wallets on the XRP Ledger has been increasing, indicating potential accumulation by some holders.
- Institutional processes for ETF investments can take months, reflecting careful planning rather than short-term market moves.
Despite the rise in assets under management for XRP-linked ETFs, the token’s price has been under pressure, with technical indicators suggesting a broader pullback since mid-year. The increase in non-empty wallets suggests that some investors might be accumulating XRP even as its price declines.
This divergence between ETF growth and spot price decline highlights mixed signals in the market, with institutional involvement rising but immediate buying pressure on the spot market remaining subdued due to operational timing differences in ETF purchases. (Source)
