XRP ETF buying dropped by 94% in just one week, raising concerns among coin holders. However, according to a leading Cheeky Crypto analyst, ETF funds are not the main force behind XRP\u2019s price movements.<\/p>\n
Last week, XRP ETF buying saw a staggering decline, plunging from 49 million XRP to just 3 million XRP. This sharp drop amounts to a 94% decrease, sparking alarm within the XRP community. Major funds such as Bitwise and Franklin Templeton are among the top buyers, with Bitwise contributing the most. However, their activity slowed significantly over the past week.<\/p>\n
During the week when ETF funds were actively purchasing XRP, the price of the coin surged by 12%. But as ETF buying slowed the following week, the price reversed and fell. This pattern highlights the potential short-term influence of ETF flows on price, but it does not tell the whole story.<\/p>\n
Despite the attention on XRP ETF buying, the actual impact on the overall market is relatively minor. Last week, ETF funds added just 3 million XRP, while the total trading volume for XRP reached $33.5 billion. That means ETF purchases accounted for less than 0.23% of all XRP traded in that period.<\/p>\n
Currently, ETF funds hold around $1.66 billion in XRP, which is only about 1.8% of the total XRP supply. Furthermore, ETF funds withdrew just $3.28 million last week\u2014less than 0.2% of their total holdings. According to the Cheeky Crypto analyst, these numbers show that ETF activity, while headline-grabbing, is not the dominant factor driving XRP\u2019s price.<\/p>\n
The sharp drop in XRP ETF buying has understandably caused concern, but Cheeky Crypto’s analyst urges investors to keep perspective. Given that ETF inflows and outflows make up only a small slice of the total market activity, other factors such as overall market sentiment, regulatory news, and macroeconomic trends likely play a much bigger role in determining XRP’s price.<\/p>\n
The analyst warns that while ETF flows can influence short-term price swings, investors should pay close attention to broader trends and not overreact to ETF data alone. Ongoing monitoring of these trends is important for anyone looking to make informed decisions in the XRP market.<\/p>\n
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