Crypto analyst Amonyx recently highlighted a CNBC segment where XRP was declared the "hottest crypto trader of the year," outperforming Bitcoin and Ethereum. The discussion centered on the sustained investor interest in XRP-focused exchange-traded funds (ETFs) even as other major crypto funds experienced outflows.
In the CNBC video shared by Amonyx, host Mackenzie Sigalos noted that XRP gained significant attention towards the end of last year. Investors were piling into XRP ETFs while spot Bitcoin and Ethereum ETFs saw outflows, likely viewing XRP as a "less crowded trade" during the crypto price declines in the fourth quarter. Sigalos stated this strategy paid off, with XRP recording a 20% gain at the start of the year.
The analysis also touched on XRP's fundamental use case. Sigalos pointed out that XRP and Solana are currently the two most popular altcoins, with XRP gaining prominence for its utility in cross-border payments. She suggested both tokens might have more room to rally compared to Bitcoin and Ethereum. Furthermore, she noted a potential trend of users and investors turning to cheaper, faster networks like Solana over Bitcoin and Ethereum for payments and tokenization.
Supporting this, data from RWA.xyz indicates the XRP Ledger is gaining traction in tokenization, recently surpassing Solana in terms of tokenized value on the network.
On the investment front, SoSoValue data shows XRP ETFs continue to see daily net inflows despite market volatility. The funds are on a five-day streak of consecutive net inflows and have seen only six days of outflows since the start of the year. They currently hold net assets of $1.02 billion, representing 1.20% of XRP's total market capitalization.
However, a CoinShares report provided context, revealing that XRP funds saw weekly inflows of $1.9 million last week. This was substantially lower than the inflows for other major tokens: Bitcoin funds attracted $881.5 million, Ethereum funds saw $116.9 million, and Solana funds recorded $53.8 million in weekly flows.
At the time of reporting, XRP's price was trading around $1.36, showing gains over the previous 24 hours.
