XRP ETFs Experience Decline in Demand Amid Downturn in Crypto Market

XRP exchange-traded funds (ETFs) have seen a decline in demand over the past few weeks, with zero net day flows recorded on March 26. This comes as the broader crypto market has been experiencing a downturn, leading to a drop in XRP's price.

According to data from SoSoValue, the spot XRP ETFs saw a total of $28 million outflows in March, which is potentially the first negative monthly flow since their launch. Despite this, the cumulative net inflows since launch have grown to $1.21 billion.

The decline in demand for XRP ETFs may be attributed to the recent drop in XRP's price, which has fallen below the $1.40 level. However, the trading volume rose more than 38% over the past 24 hours to $2.4 billion, indicating that XRP is consolidating and awaiting a big push higher.