XRP ETFs see small outflow; Binance liquidity at 2020 low

XRP spot exchange-traded funds recorded a $35,210 net outflow in the week ending May 1, ending three consecutive weeks of inflows, according to SoSoValue.

SoSoValue data show the prior three weeks added $82.88 million in net inflows, including $55.39 million in the week of April 17. Cumulative net inflows into XRP ETFs stand at $1.29 billion, while weekly net assets declined to $1.06 billion after the May 1 outflow.

Separately, an analyst monitoring Binance order-book metrics noted the exchange’s 30-day XRP liquidity index fell to 0.038, the weakest reading since 2020, and described the level as a “clear weakness in market depth.”

The analyst wrote that lower market depth can make prices more sensitive to inflows or outflows, and added that price action has remained relatively stable so far.

ETF flow figures and exchange liquidity readings diverged in late April: ETFs saw concentrated buying over several weeks even as order-book depth on Binance weakened.

The analyst warned that modest inflows into a thin market could prompt a sharp rally, while continued weakness in demand could increase downside pressure.