XRP ETFs suffer the largest daily outflows in 8 months
XRP continues to face mounting pressure, trading at $1.06 on November 9 as spot XRP ETFs record their worst withdrawal day in eight months. Namely, the exchange-traded funds lost approximately $10.42 million in net outflows over the past 24 hours, marking the worst loss since March 9, according to SoSoValue data. XRP ETF outflows. Source: SoSoValue Bitwise’s XRP ETF accounted for the majority of the losses, shedding approximately $9.4 million, or roughly 90% of total outflows. Advertisement Canary’s XRPC shed $811,440, while 21Shares’ TOXR recorded $212,900 in withdrawals. Franklin’s XRPZ and Grayscale’s GXRP reported no net flows. XRP ETFs post record withdrawals as spot prices struggle The withdrawals come amid broader market weakness. The total cryptocurrency market capitalization declined approximately 1.31% over the same period, while Bitcoin (BTC) fell 1%. However, XRP’s steeper losses suggest that market-wide weakness alone is not the sol...