The crypto market witnessed high volatility last week, resulting in the XRP inflows crashing. Amid multiple macroeconomic events and shifting investor sentiments, the digital assets suffered greatly, breaking multi-day price peaks and other milestones. Although the Ripple token suffered, it showed unexpected resilience compared to the rest of the altcoins.
XRP Inflows Crash 83% But Still Leads Altcoins
CoinShare’s Digital Assets Fund Flows weekly report reveals that the XRP inflows had crashed 83% the past week, as it dropped from a whopping $190 million to $31.3 million. Despite a crash, it is still in positive rankings, second in the weekly gainer report right behind Ethereum, which has $133.9 infows.
- Source: CoinShare’s Digital Assets Fund Flows weekly report
Speaking of the inflow of the week, Solana crypto products also survived the crypto market crash. It had $8.8 million in inflows, with $852 million in year-to-date. However, except for these, most altcoins saw heavy outflows, producing a $223 million outflow, reversing $883 million early-week inflows.
Meanwhile, Bitcoin led with a $404 million outflow, marking the worst performance since April. Notably, on the YTD net flows, it still stands strong at $20 billion in inflows. Besides Bitcoin, Sui and Litecoin also tumbled, contributing to the total outflow of $223 million.
Why Did XRP and Other Altcoins See Inflows Crash?
The inflows crashed mainly due to the hawkish Fed comments during the FOMC meeting and the unchanged interest rates. Additionally, the U.S. July job data raised concerns, coming in below expectations.
On August 1 alone, the outflows surpassed the $1 billion mark, showcasing a sharp capital exit. The new Trump tariff announcement, whale sell-off, and other factors also added to the volatility and chaos. The reciprocal tariffs will take effect on August 7, a development that could still affect the market in the coming days.
However, XRP has shown strength so far, as the White House crypto report and the SEC’s crypto project announcement pumped investors. Notably, the rumored August 15 deadline for the end of the Ripple vs SEC lawsuit also helped XRP win against the altcoins.
Frequently Asked Questions (FAQs)
The XRP inflows crashed due to macroeconomic volatility, including the Fed’s hawkish tone and strong U.S. economic data.
XRP is a top gainer as it still had a positive netflow of $31.3 million, while others had outflows.
Bitcoin saw the highest outflows of $404 million, whereas XRP had $31.3 million in inflows.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
✓ Share: