XRP Demand Weakens as US ETF Outflows Hit $7.2M and Futures Bets Slump
Key Facts
XRP is facing significant selling pressure as market sentiment shifts, reflecting a decline in appetite among both institutional and retail investors. According to reports, US spot XRP ETFs recorded approximately $7.2 million in net outflows for the week ended July 10. Simultaneously, XRP futures markets saw a reduction of roughly $700 million in open bets, signaling a broad liquidation of positions as technical indicators across the crypto sector weaken.
This downturn occurs as major altcoins face similar headwinds, with market sentiment dampened by recent price volatility in benchmark assets. Compared to historical performance, the loss of $700 million in open interest represents a sharp negative pivot that undermines the bullish momentum built over previous months. Per market data, these movements highlight a cautious stance as investors await further clarity on regulatory and macroeconomic factors impacting the digital asset space.
Looking ahead at the economic calendar, while there are no direct crypto-specific catalysts, markets are focused on upcoming US Federal Reserve speeches, such as Governor Bowman's address on July 7. These events could influence global liquidity and dollar strength, which historically impacts the performance of digital assets like XRP.
Latest Updates · 2
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Update: These outflows are particularly significant as they break a two-month streak of consecutive net inflows, signaling a sudden shift in fund strategies. Per market data, this decline coincided with a broader rebound in Bitcoin and Ethereum, suggesting institutional investors pivoted toward major benchmark assets at the expense of XRP.
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Update: Recent on-chain data reveals additional pressure from a significant drop in whale activity on the XRP Ledger, signaling waning confidence among large-scale holders. Furthermore, the escalation of the US-Iran conflict has shifted investor preference away from digital assets toward traditional safe havens, creating a new macro headwind for XRP's price recovery.