XRP (CRYPTO: XRP) is up 2% on Friday despite ETF outflows on Thursday as derivatives volume exploded 35% over the last 24 hours.

The ETF Outflow Problem

XRP spot ETFs recorded $6.08 million in net outflows on March 12, extending a streak of redemptions even as technical momentum improved. 

Total net assets sit at $967.77 million, but flow patterns have been unstable with big inflows on March 6 and 9 totaling $34.73 million, then outflows on March 5, 10, and 12.

U.S.-listed XRP ETFs recorded roughly $3.9 million in outflows during the session. The negative flows suggest institutional investors are trimming positions despite the price rally.

The Short Squeeze Catalyst

Derivatives data…

Read more on Benzinga