XRP Shows Phenomenal Result Amid Largest Weekly Funds Outflows Ever


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XRP Shows Phenomenal Result Amid Largest Weekly Funds Outflows Ever: According to CoinShares’ latest weekly report on funds flows into cryptocurrency-oriented investment products, XRP ended the recent period with an inflow of $300,000.

XRP Shows Phenomenal Result Amid Largest Weekly Funds Outflows Ever

XRP Shows Phenomenal Result Amid Largest Weekly Funds Outflows Ever

XRP Shows Phenomenal Result Amid: The figure, insignificant at first glance, becomes much more representative when we realize that the past week was the largest in terms of outflows ever witnessed. Investors withdrew $254.5 million from such funds on the back of news about the bankruptcy of regional U.S. banks and the de-payment of USDC.

In addition to XRP, investor funds flowed into products tied to Solana (SOL) and Polygon (MATIC). These are also the only three altcoins whose inflow value since early 2023 has not been erased by massive outflows. So, as of now, there is a concentration of $1 million in XRP-oriented investment products.

Where do outflows flow?

XRP Shows Phenomenal Result Amid: It was Bitcoin (BTC) that took the biggest hit last week. According to data, investors withdrew more than $243 million from BTC-oriented financial instruments in the past week. By comparison, this weekly outflow is almost equal to 1% of all assets under management.

However, while traditional investors are withdrawing funds from cryptocurrency-oriented products in the midst of the biggest banking crisis since 2008, some experts are instead looking to the new digital economy for salvation. For example, Robert Kiyosaki, author of the bestselling business book “Rich Dad Poor Dad,” has once again urged his followers to reject “fake money” and buy gold, silver, and Bitcoin.

XRP Shows Phenomenal Result Amid Largest Weekly Funds Outflows Ever

Ripple News

XRP Shows Phenomenal Result Amid: Ripple (XRP) has rapidly slid to second place in the CoinMarketCap global cryptocurrency ranking. News about it is incredibly important for the digital industry. We offer the most complete and fresh latest news for the Ripple XRP today, including analysis of prices and market conditions, the forecast of the token’s price movement, and the mood of the community and founders. Check the latest Ripple (XRP) Price Prediction.

Bloomberg Expert Expecting Ruling in Coming Months

XRP Shows Phenomenal Result Amid: During an appearance on Laura Shin’s “Unchained” podcast, Elliott Z. Stein, a Bloomberg Intelligence analyst, recently commented on the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). He stated that he expects a ruling on the summary judgment motions in the first half of this year.

Judge Analisa Torres recently made a new decision in the case, which involved excluding the SEC’s vital expert witness from providing testimony. Patrick Doody, who was hired by the formidable regulatory agency to examine the token purchasers’ expectations, has been barred from giving testimony by Judge Torres in response to Ripple’s motion. In December 2020, the Securities and Exchange Commission (SEC) initiated legal proceedings against Ripple as well as its senior executives.

Check Also: Quick 5 Scope Of Ethereum In [year] And Price Prediction

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