XRP Strengthens, Ethereum Continues to Fade: Recent Dynamics of the Crypto Market

Jakarta, Pintu News – According to the latest report from CoinShares, crypto investment products recorded net inflows last week, with a total of $6 million entering the market. Despite a fairly stable start to the week, macroeconomic data from the US had a significant impact on fund flows.

US outflows dominate markets, Europe remains optimistic

James Butterfill, Head of Research at CoinShares, revealed that stronger than expected US retail sales data resulted in significant capital outflows. Although the beginning of the week showed inflows, the mid-week saw a pullback of $146 million, erasing most of the initial gains.

On the other hand, European markets showed a more positive outlook. Switzerland recorded inflows of $43.7 million, followed by Germany with $22.3 million, and Canada with $9.4 million. This shows that there are differences in crypto investment behavior between regions.

Also Read: Gold or Bitcoin: Which is a Safe Investment Amid US-China Tensions?

Ethereum (ETH) continues to experience pressure, XRP (XRP) is on the rise

Ethereum (ETH) has continued to experience outflows for eight consecutive weeks, with an additional $26.7 million withdrawn last week. Despite the consistent pressure, Ethereum (ETH) still holds second place in fund flows year to date (YTD), with a record net inflow of $215 million so far in 2024.

In contrast, Ripple (XRP) recorded significant weekly inflows of $37.7 million. This latest performance has lifted the token to third place in YTD fund flows, just behind Ethereum (ETH), with total net inflows of $214 million since the start of the year.

XRP Price Prognosis: Analysts See Potential Despite Obstacles

Ripple’s (XRP) resilience amid broader market uncertainty is reflected in the fund’s recent behavior and continues to attract attention from investors allocating capital to a diversified portfolio of cryptoassets. Despite the challenges, analysts remain optimistic about Ripple’s (XRP) long-term prospects.

Conclusion

Crypto market dynamics are constantly evolving with significant changes from week to week. Investors and analysts alike must remain vigilant to changing trends and economic data that could affect the value and flow of funds in various cryptocurrencies.

Also Read: Polkadot (DOT) Preparing to Surpass Resistance, Is it Time to Buy?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. XRP Gains Ground in Weekly Crypto Inflows as Ethereum Continues Downtrend. Accessed on April 23, 2025
• Featured Image: Generated by AI