XRP Loses May Gains as Returns Flip Negative Again

utoday05-29 14:11

Despite starting the month on a promising note, XRP's return for May has suddenly flipped negative amid the prolonged crypto market volatility.While it is quite uncertain how much XRP will be worth at...

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While momentum remains bearish, analysts believe it is unlikely for XRP to recover its gains before May wraps up.As of the time of writing, XRP is trading at $1.30 following a modest price surge of 0.87% over the last 24 hours. This is pretty far from the price it started the month with, which was around $1.40.XRP institutional investors hold strongThe broad crypto market has remained negative for the past two weeks with the price of leading cryptocurrencies including Bitcoin, Ethereum and XRP consistently trading in a downward trajectory.Despite the extremely volatile situation, XRP ETFs saw continued positive participation from institutional investors while other crypto assets saw their ETF products record rising withdrawals.For the past two weeks, XRP ETFs have not recorded any withdrawal but steady inflows in each of its daily trading sessions. However, the Bitcoin and Ethereum ETFs have continued to bleed on nearly all days of the last two weeks.While institutional participation remains intact, investors are hopeful for a potential price recovery for XRP in the next month.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.3","shortVersion":"4.42.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2639360980","isCrawlerRequest":true}