XRP Sees Positive Investment Inflows as the Overall Cryptocurrency Market Experiences Its Third Consecutive Week of Inflows

Cryptocurrency investment product flows saw their third consecutive week of net inflows, while XRP experienced notable positivity in the past week with nearly $11 million flowing into investment products.

According to CoinShares’ latest digital asset fund flows report, XRP saw an inflow of $10.49 million.

This follows several weeks of reports on capital flowing into Ripple coin products. Last week alone, it was reported that XRP had seen an inflow of $31.6 million.

Among the cryptocurrencies tracked by CoinShares, XRP came fifth in terms of weekly inflows. Only Bitcoin saw larger inflows with an estimated $1.84 billion flowing into BTC products last week. Afterwards came Ethereum with $149 million, Short Bitcoin with $6.4 million, and Solana with $6.03 million.

In terms of year-to-date performance, XRP has seen the fifth-largest capital inflow with $256.49 million flowing into the asset class. Only Bitcoin, Ethereum, Short Bitcoin, and Short Ethereum have seen larger outflows.

At the moment, total assets under management in XRP-based investment products now stand at $1.067 billion.

Its strong performance comes amid speculation about a potential deal between Circle and Ripple.

Earlier this month, reports emerged that Circle, the issuer of the USDC stablecoin, could be planning to sell a stake to a private equity firm.

This follows earlier reports of a $5 billion deal between the two companies that eventually fell through.

Industry experts are skeptical of whether Ripple would pursue such a substantial acquisition. Some experts believe that a $20 billion price tag for Circle seems "unrealistic."

However, earlier this year, there was speculation that a deal could be in the works.

Earlier this year, reports emerged that Circle and a private equity firm were in talks to sell a stake in the USDC issuer.

In April, Ripple completed the acquisition of prime broker Hidden Road for $1.25 billion.

Speculation is also swirling about the potential approval of an XRP ETF, which could spur even greater levels of interest in the asset.

Despite the positive inflow, the XRP price is down 2% in the last 24 hours, according to Benzinga price data. At the time of writing on Thursday morning, XRP is trading at $0.50.

The United States saw $1.92 billion in inflows last week alone. This is the second-largest weekly total in 2024.

Germany was the next largest contributor with €47.2 million (45.39$ million) in inflows. Switzerland followed with $34.2 million, and Canada contributed $20.1 million.

Although they are lower, they reflect what CoinShares says is “broad supportive sentiment for the asset class.”

There were also some outflows from Sweden (-$0.5 million) and Brazil (-$0.2 million) at roughly the same time. Hong Kong had relatively small inflows of $2.7 million, and other unlisted markets overall saw about $2.5 million.

The US also remains firmly in the top spot in the total amount of money invested in cryptocurrencies.

To date this year, products based in the US have seen $5.89 billion in new money. As CoinGape reported, the US Bitcoin ETFs recently saw a record inflow of $591 million amid the Bitcoin price surge last week.