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XRP Attracts More Funds Amid $27M Exit From Crypto Market

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XRP Attracts More Funds Amid $27M Exit From Crypto Market

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Gamza Khanzadaev

XRP Continues To Attract Funds Amid Crypto Market Crash, Cardano Too

Room shares reports in its latest weekly digital asset fund flow report, XRP and Cardano (ADA) are the few cryptocurrencies that ended the week with positive flows. This is the second week in a row for the two assets.

Positive flows in XRP and gimbal are extremely small but can nevertheless lighten the overall picture slightly, which was particularly marred by Bitcoin. The market’s leading cryptocurrency saw an outflow of $28.7 million during the week, with Ethereum nearly losing $1 million. Meanwhile, XRP and Cardano each gained $100,000 in inflows, and Solana joined them with a surplus of $200,000.

Yes, inflows into XRP and ADA are down three to five times what they were a week beforebut it is certainly a positive sign for both assets in such a difficult market.

The crypto market is experiencing apathy

The Crypto Research Portal reports that the past week marked the third consecutive weekly outflow of funds from the crypto market. The latest release of $27 million brings the total releases since the beginning of the month to $46 million.

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Volumes in the market are now at their lowest since October 2020. If you had to describe the current situation in one word, it would be “apathy”, as CoinShares aptly quotes in its report.

The most “apathetic” countries towards cryptocurrencies are the United States, which is not surprising given the size of the market in the country, as well as Sweden and Germany.

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