XRP's $1.30 Retest Triggers First ETF Outflow in 13 Weeks

The severe market volatility that affected $XRP's price movement last week has also extended to its ETF ecosystem as both retail and institutional investors appear to be taking caution.

The broad $XRP ETF market has posted its worst weekly performance in over three months, drawing attention from market analysts about how this could affect $XRP's price potential.

Over $1.84 million exit $XRP funds last week

According to the latest data from SosoValue, $XRP ETFs have recorded a net outflow of over $1.84 million over the last week.

While this marks the first weekly outflow the funds have registered since July 7th, it has come at a time when the market is facing a downturn, raising concerns about whether investor demand for the $XRP investment product is beginning to weaken.

Notably, the reversal has come after $XRP ETFs maintained a steady streak of consistent capital inflows for 13 consecutive weeks.

As such, the $XRP funds have broken the bullish trend with a negative performance this week after seeing sustained investor interest in gaining exposure to the $XRP investment product.

$XRP demand stalls as price retests $1.30

While the performance of the $XRP funds provides a bearish outlook for the asset, $XRP's recent price movements have contributed to the uncertainty surrounding its short-term outlook.

Despite showing signs of a potential price recovery in the previous day, $XRP is back in the red and has once again retested the $1.30 level, placing market sentiment under renewed pressure.