XRP ETFs Keep Drawing Cash, So Why Is the Price Down 40%?

XRP-backed exchange-traded funds (ETFs) pulled in $27.29 million in July, marking a fourth straight month of net inflows. The token itself trades near $1.08, down roughly 40% since the start of the year, in line with a generally poorly preforming crypto market.

But many expect intuitional money and these products to be bolstering XRP, and others. Instituional Money Cumulative XRP ETF inflows now sit near $1.5 billion, the largest total among altcoin products. The price keeps sliding anyway.

XRP funds have ranked first or second in monthly inflows since April, without barely any outflows. Inflows ran $81.59 million in April, $131.94 million in May, $59.46 million in June, and $27.29 million in July, showing the pace has cooled even as the streak holds.

XRP ETF inflows have had an impressive run of inflows even with the price falling. Image Source: Coin Glass That steady buying stands out against a market where fresh capital keeps concentrating in a handful of tokens. Several smaller altcoin funds recorded no net flows in July.