XRP sees $20m in weekly cash flow as Bitcoin and ETH bleed
The XRP investment products recorded more than $20 million in net weekly cash flow, thereby outshining Bitcoin (BTC) and Ethereum (ETH), which saw net outflows.
During the last week of May, XRP’s investment products reported a net cash inflow of about $20.3 million, according to data from CoinShares analyzed by Finbold on June 1. As such, these funds collectively have tokens valued at approximately $2.473 billion, up by $159.5 million in May and around $311 million year-to-date (YTD).
Crypto weekly cash flow. Source: CoinShares
On the other hand, Bitcoin and Ethereum’s investment products registered a net cash outflow of roughly $1.695 billion. Specifically, BTC’s investment products saw a net outflow of $1.438 billion, bringing total assets under management (AUM) to $114.606 billion. Meanwhile, Ethereum’s investment products closed last week at $15.434 billion, down $257.3 million over the past 7 days.
As a result, all crypto investment products had a total AUM of $141.924 billion, down by around $1.671 billion in 7 days.
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Is XRP price going to go up?
As XRP led other crypto assets in weekly cash inflows, traders might be wondering if the altcoin could rally in the near future. Furthermore, the token’s price dropped 3.81% over the past seven days, amid the notable weekly cash flow, trading at approximately $1.30 at press time.
XRP/USD 7-day chart. Source: Finbold
As such, Finbold AI Agent – an advanced financial assistance tool – anticipates further correction for XRP price over the coming seven days.
XRP price prediction for 7 days. Source: Finbold
The Finbold AI Agent predicted that the token could drop by 2.82% over the next 7 days, to hit $1.26 on June 8. However, if investors continue to accumulate XRP in the coming days, the AI’s prediction could be invalidated, and vice versa.
