""In the month of November, there was $808 million in outflows on centralized exchanges. That's people selling to dollars or stablecoins and leaving XRP," he said. "And on the other side, of the ETF equation, there was $803 million of inflows into the ETFs," he added, saying that in all, the movement of value has been somewhat muted-especially since some of that money is moving over-the-counter, rather than on exchanges, meaning that it could also have little effect on market prices."
"Values remained elevated through most of the summer months, catalyzed by U.S. regulators dropping legal actions against Ripple Labs, which had stretched on for several years. Additionally and subsequently, XRP ETFs have hit exchanges, theoretically broadening XRP's appeal and reach within the crypto space. That, it seems, should have increased demand and XRP prices, but that has not materialized. The question, then, is why XRP's price has continued to fall-or seems stuck around $2?"
XRP's value has slid to as low as $1.92 and has hovered near $2 for roughly a month after peaking above $3.50 in late July. Prices stayed elevated through the summer following U.S. regulators dropping legal actions against Ripple Labs and the introduction of multiple XRP ETFs. ETF inflows occurred, but nearly offsetting outflows from centralized exchanges reduced net upward pressure. Significant trading has shifted over-the-counter, muting exchange price signals. November saw roughly $808 million exit exchanges while about $803 million flowed into ETFs. Bitcoin and Ethereum also declined in recent months.
Read at Fast Company
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