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XRP spot ETFs recorded a net inflow of $28.14 million on August 26, marking a seven-month high for single-day inflows, but the price of XRP token fell by 4.1% on August 28.
Despite the XRP spot ETF recording a net inflow of $28.14 million on August 26, its strongest single-day performance in seven months, the price of XRP tokens fell by 4.1% on August 28, and the Bitwise XRP ETF also dropped to $15.64. Analysts pointed out that this inflow was relatively modest and was accompanied by the forced liquidation of over $20 million in leveraged long positions, leading to skepticism in the market about whether this inflow truly signals a shift in demand.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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