Although demand for exchange-traded funds on XRP has noticeably slowed in recent days following volatility in the crypto market, it remains even in small volumes. Amid this slow but steady demand, new data shows that Franklin Templeton has acquired XRP, even though the asset's price remains unstable.
According to SosoValue data as of October 23, the Franklin XRP ETF recorded up to $3.55 million in net inflows during the last trading session on Thursday. The fund attracted about 2.71 million XRP worth approximately $3.55 million. While other XRP funds showed zero flows for the day, Franklin led the day in capital inflow.
Such an inflow gives a positive signal for XRP, as it indicates steady demand from investors seeking access to the asset without direct ownership. However, the movement of XRP's price at the time of purchase remains a concern for market participants: the overall market momentum continues to wane, and other major crypto assets are also experiencing corrections.
It is worth considering that Franklin Templeton's purchase gives a positive signal for demand for its investment product but does not guarantee an immediate recovery in XRP's price. The asset's dynamics depend on the overall market sentiment, which is currently bearish. Analysts suggest that steady demand for the XRP fund could support price growth in the long term, although the short-term picture remains uncertain.
The situation is indicative of the market as a whole: even in the face of a broad market momentum decline, individual institutional products continue to attract funds. Franklin Templeton is not the only example, but its fund was the only XRP product with non-zero inflow on Thursday. How sustainable this trend will be will be shown by the flow dynamics in the upcoming trading sessions.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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