Spot exchange-traded funds tracking Ripple's native token experienced their best weekly performance since May, following a period of sluggish demand and flat trading days earlier in the month.
Data from SoSoValue indicates that Monday started with $0.00 in flows, continuing a streak where seven out of eleven trading days saw no action. However, investor interest returned on August 18 with $5.81 million in net inflows, marking the largest daily total for the month.
Inflows accelerated later in the week, reaching $13.24 million on Thursday and $18.38 million on Friday. Friday marked the single-best day for the funds since May 14. In total, the ETFs gathered $39.78 million last week, representing the strongest weekly performance since the week ending May 15.
With these gains, cumulative total net inflows reached a new all-time high of $1.55 billion. Bitwise's XRP fund remains the largest by cumulative net inflows at $542.69 million, followed by Canary Capital’s XRPC at $468.12 million and Franklin’s XRPZ at $434.16 million.
The surge in ETF demand coincided with a substantial price rally for XRP. After defending the $1.00 support level, the asset climbed to $1.70 by Saturday morning, representing a 70% increase in less than 72 hours. Following a rejection at that level and a drop to $1.42, the token recovered to trade at just over $1.50.
