XRP's newly launched exchange-traded fund (ETF) absorbed nearly 80 million tokens on Monday, significantly outperforming Solana's recent ETF debut. The rapid inflow has pushed the total assets under management (AUM) to $778 million, according to data from XRP Insights.
Key Points:
Grayscale and Franklin Templeton's XRP ETF absorbed nearly $130 million at the product launch.
Ongoing ETF inflows, rather than just opening demand, will determine XRP's structural advantage in price recovery.
XRP has formed a bullish flag pattern, but technically remains in a bearish trend below key EMAs.
Grayscale's GXRP attracted $67.4 million, while Franklin Templeton's XRPZ attracted $62.6 million during its launch on November 24, raising the total assets of the XRP ETF to $628 million. Nearly 80 million XRP were absorbed within 24 hours, with early inflows surpassing the recent record set during Solana's ETF debut, all occurring against a backdrop of Bitcoin outflows.
Currently, there are four XRP ETFs launched, with Canary's XRPC leading on Nasdaq with a cumulative net inflow of $331 million, followed by Bitwise's XRP ETF with a net inflow of $168 million.
The significance of such rapid absorption lies in the fact that ETF demand will directly compress circulating supply, but to assess XRP's long-term benefits, sustained net inflows must be observed.
XRP supporter Chad Steingraber remains optimistic, noting that "each share corresponds to 10 to 20 XRP… which is a significant boost to share price," and added that if net inflows continue, it could trigger a FOMO-driven surge in trading volume, making the ETF a "market dynamic influencer" over time.
Meanwhile, the popularity of the XRP ETF is expected to continue, as it is speculated that 21Shares' TOXR will be listed on Cboe BZX on November 29, having previously received S-1 and Form 8-A approvals. The product has a fee rate of 0.50% and seeks $500,000 in seed funding to expand exposure to spot XRP in the U.S.
XRP is the best-performing asset among the top ten, rebounding 5% this week from a low of $1.90 to $2.20, where immediate resistance has emerged.
On the four-hour chart, XRP is forming a bullish flag pattern, and if it breaks out, the potential target points to a seller's fair value gap (FVG) of $2.35—$2.45, while also sweeping liquidity at $2.30 and $2.35.
However, if it continues to fail to reclaim $2.20, it is more likely to retrace to a buyer's fair value gap (FVG) of $2.10—$2.00, where key liquidity is concentrated. Therefore, the current market has not yet formed a consensus on the short-term direction.
The Relative Strength Index (RSI) remains above 50, indicating strong short-term demand; however, the overall trend remains downward, with XRP trading below the 50, 100, and 200 exponential moving averages (EMAs) on the four-hour chart.
Related: Nasdaq plans "super expansion" of BlackRock's Bitcoin (BTC) ETF futures quota.
Original: “XRP ETF Absorbs 80 Million Tokens: Is This the Start of a Bull Trend for the Altcoin?”
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