- According to the most recent report published by CoinShares, XRP has once again established itself as the leading contender in investment products centered around cryptocurrencies, witnessing a notable increase in funds flowing in.
- XRP has attained a remarkable milestone this year, with a weekly value of $1.1 million, showcasing its impressive performance.
According to the most recent report published by CoinShares, XRP has once again established itself as the leading contender in investment products centered around cryptocurrencies, witnessing a notable increase in funds flowing in. XRP has attained a remarkable milestone this year, with a weekly value of $1.1 million, showcasing its impressive performance.
As a result, investment products centered around XRP have accumulated favorable inflows totaling $6 million year-to-date. This data holds even greater significance when considering the current state of the market, where a substantial outflow of $226 million has been observed.
The actions of investors from the conventional financial sector can mainly be attributed to the increasing anticipation surrounding the forthcoming judgment in the SEC’s legal battle against Ripple. Comparable patterns were previously witnessed in late April and early March, highlighting the importance of investor sentiment. This sentiment is further demonstrated by the upward movement of XRP’s price in the past week. Interestingly, it’s not just investors who are eagerly awaiting a prompt resolution to the case; industry experts such as Mark Fagel, a former lawyer and SEC veteran, also anticipate a verdict in the coming days.
Despite the positive performance of XRP in attracting funds, investment products focused on digital assets experienced slight outflows amounting to $5.1 million. Towards the end of the week, there was a modest increase in inflows following the announcement of BlackRock’s application for a Bitcoin Spot Trust. However, these inflows were not enough to compensate for the previous outflows, leading to the ninth consecutive week of negative flows, which now add up to a concerning total of $423 million.
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