XRP price drops to $1.58, extending weekly losses to nearly 15.7%.
Despite the price pressure, XRP ETFs recorded $16.7 million in inflows.
The crypto market opened the day on a weak note, sliding by over 4.3%, dragging the total market capitalization down to around $2.55 trillion. Amid this downturn, XRP, the top fifth-largest market-valued crypto also facing notable losses, which is currently trading near $1.58, marking a decline of more than 4% over the past 24 hours.
On a broader timeframe, XRP has extended its losses nearly 15.7% over the last week; also, the price is now trading nearly 20% below its January highs, highlighting the extent of the recent correction.
According to Coinglass Derivatives data, which confirms the weakening momentum, XRP’s open interest has dropped by around 6.06% in the last 24 hours, indicating that traders are closing positions and reducing exposure.
XRP Drops With Market Pullback as ETF Sees Inflows
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