Franklin's XRP ETF Pulls In Fresh $3.5 Million
Franklin Templeton’s XRP exchange-traded fund has recorded another round of fresh investor demand, with XRPZ attracting roughly $3.5 million in net inflows.
The Franklin XRP ETF was the only XRP fund to record positive flows for the day, according to the latest fund-flow data.
More precisely, separate SoSoValue data put XRPZ’s Sept. 16 net inflow at $3.5013 million. The fund has now accumulated roughly $483 million in net inflows.
CoinGlass data supplied for the preceding sessions shows that XRP ETFs recorded $2.73 million in net inflows on Wednesday, with the entire amount attributed to Franklin’s XRPZ.
There were no net flows recorded on Sept. 15. One day earlier, however, XRP ETFs attracted $8.40 million.
On Sept. 11, the funds recorded no net inflows or outflows. Franklin then accounted for all of the $3.69 million in net inflows recorded on Sept. 10.
Sept. 9 was one of the stronger recent sessions. XRP ETFs attracted approximately $8.67 million in total, including $6.57 million flowing into Bitwise’s product and another $2.11 million going into Grayscale’s XRP fund.
Franklin has been one of the most consistent sources of fresh XRP ETF demand during September.
XRP's most recent price drop
The fresh ETF inflows are particularly notable because they have come against the backdrop of a dramatic selloff in XRP.
XRP plunged sharply after the U.S. Senate failed to advance the CLARITY Act on Sept. 15. As reported by U.Today, the procedural motion fell short of the 60 votes required to move the legislation forward, dealing a major setback to the cryptocurrency industry and triggering broad risk-off selling across digital assets.
CoinGecko historical data shows XRP trading at roughly $1.42 on Sept. 14 before falling to around $1.28 on Sept. 15, amounting to a decline of approximately 10%. XRP subsequently recovered modestly to around $1.30.
At the latest reading provided by CoinGecko, XRP was changing hands near $1.30, with a 24-hour range of roughly $1.25 to $1.31. The token remained down about 6.7% over the previous seven days and roughly 30.1% over the past month.
