XRP Surges as Bitcoin Sees Heavy Outflows Amid Market Volatility

The cryptocurrency market has been shaken by fear, uncertainty, and doubt (FUD) following the Bybit hack, triggering increased volatility. This uncertainty has impacted investor sentiment, with digital asset investment products recording $508 million in net outflows, primarily from Bitcoin.

CoinShares data reveals Bitcoin led outflows with $571 million, reflecting institutional investors’ retreat. However, XRP defied the trend, attracting $38.3 million in inflows, signaling renewed investor confidence. Analysts attribute this surge to optimism surrounding XRP’s legal battle with the SEC nearing resolution and the growing interest in XRP exchange-traded funds (ETFs). Brazil’s approval of the first XRP ETF further bolsters positive sentiment.

Altcoins, including Solana ($8.9 million), Ethereum ($3.7 million), and Sui ($11.47 million), also witnessed inflows, highlighting a shift in investor focus away from Bitcoin. European markets, particularly Germany and Switzerland, demonstrated optimism, contributing inflows of $30.5 million and $15.8 million, respectively, contrasting with the U.S. market, which saw $60 million in outflows amid economic uncertainty.

Despite its positive inflows, XRP is trading at $2.47, down 3.38%, while Bitcoin sits at $95,663.24, declining 0.24%. The shifting investment landscape underscores evolving market sentiment, with altcoins gaining traction as Bitcoin struggles with investor confidence.