• Ripple (XRP) concluded last week with inflows of $300,000, according to CoinShares‘ most recent report on money movements in cryptocurrency-focused investment products.
• The value of XRP peaked in 2021 at $3.84 and has since fallen to $0.3938 due to recent market corrections.
• Last week saw the highest withdrawals from digital asset investment products since late December 2022 totaling $32 million.

Ripple Investor Sentiment Around XRP Switched to Positive for the First Time

Recent Market Movements

The price of Ripple (XRP) has dropped back to where it was prior to the January market highs, and it shows no prospects of rising any time soon. However, on the flip side, XRP concluded last week with inflows of $300,000, according to CoinShares‘ most recent report on money movements in cryptocurrency-focused investment products. This was the first time since the year’s start that XRP-focused products had drawn money from investors. The report read, „Digital asset investment products saw outflows totaling US$32m last week, the largest since late December 2022.“

Previous XRP Value

The value of XRP peaked in 2021 at $3.84 but has since fallen to $0.3938 due to recent market corrections. In terms of year-to-date gains, XRP is trailing behind other cryptocurrencies that have recorded notable gains since the start of the year. At the time of publication, XRP had decreased over the last 24 hours to $0.39 and over the previous 30 days had fallen 4%.

SEC Lawsuit Against Ripple

The US Securities and Exchange Commission (SEC) sued Ripple in 2020 on grounds that it had distributed unregistered securities using its XRP cryptocurrency worth a total of 1 .3 billion dollars .Ripple refutes these claims by claiming that their coin does not qualify as a security nor does it pass through Howey Test which is used by SEC for making decisions about securities law violations .

Outflows From Digital Asset Investment Products

The highest withdrawals from digital asset investments occurred last week totaling 32 million US Dollars . Mid way through last week ,the outflows were much higher at 62 million US Dollars but sentiment improved by Friday due to Bitcoin being up more than 10 % and 50 % after regional bottom was far behind .