Bitwise, 'Sole Inflow' Amidst XRP ETF Market Stagnation..."Now or Never"

▲ XRP/AI Generated Image

Bitwise recorded a sole inflow of funds in the quiet XRP spot ETF market, creating a subtle change. This trend is significant as it emerged in a situation where the overall market had virtually come to a halt.

According to U.Today on the 23rd (local time), the XRP ETF market recently experienced two consecutive days with no fund inflows. While investment activity ceased in most products, the Bitwise ETF alone saw an inflow of $2.42 million. This was the only fund movement observed amidst the stagnant overall market.

This timing coincides with a technically sensitive zone. XRP is currently fluctuating near its 200-week moving average, which is considered a baseline for its long-term trend against Bitcoin. The market views this zone as a critical juncture for determining long-term direction.

If the price holds this line, it could serve as a springboard for a trend reversal, but conversely, if it breaks down, there's a high possibility of increased downward pressure. Especially as this movement is based on the XRP/BTC pair, it is also significant as an indicator for gauging relative value trends.

What stands out is the fact that ETF funds flowed in, albeit limitedly, at this technical crossroads. The fact that funds came into only a specific asset manager while all other products were stagnant indicates that selective responses regarding direction are being made within the market.

Ultimately, the current XRP market has entered a phase where supply and demand and technical trends are intertwined, searching for direction. The interplay between the defense of the key support level against Bitcoin and the ETF fund flow is increasing the likelihood that the nature of short-term trends will be determined.

*Disclaimer: This article is for investment reference purposes, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*