A rare phenomenon has formed around the cryptocurrency XRP. While institutional investors are massively withdrawing funds from XRP-focused investment products, the market price of the token continues to rise confidently.
According to a fresh CoinShares report, for the week ending March 13, net outflows from XRP ETFs reached a record $76.1 million. The dynamics are important here, with this figure representing an acceleration, as previous outflows were $33 million. So, the latest numbers show a jump of 151%. Total outflows since the beginning of March have reached $133 million.
Despite this, XRP is ignoring bearish signals from the ETF field. Over the past 15 days, the price of the asset has risen by more than 11%, and at the time of publication, XRP is trading around $1.48.
Several key reasons lie behind this institutional flight from XRP ETFs:
Total assets under management in XRP ETFs remain at $2.4 billion, placing the asset on the same level as Solana. Notably, even with the current losses, the year-to-date figure remains positive at $20 million. It can be assumed that if XRP holds above the $1.44 support level, technical momentum will outweigh the negative impact from ETF flows.
In the long term, the market is pricing in expectations around the adoption of the Clarity Act, which could ultimately secure the status of the XRP Ledger as the base for some of the most advanced digital assets, such as RLUSD and XRP. Many analysts maintain annual price forecasts for the token in the $2.80-$5 range.