In the latest weekly report of CoinShares In terms of fund flows into cryptocurrency-oriented exchange-traded products, XRP has been a standout despite a difficult week for digital assets.
In the latest weekly report of CoinShares In terms of fund flows into cryptocurrency-oriented exchange-traded products, XRP has been a standout despite a difficult week for digital assets.
While overall investments in digital asset products saw outflows totaling $600 million, investments focused on XRP bucked the trend with inflows reaching $1.1 million in the past seven days. This is the second consecutive week of strong investor interest in XRP-related financial instruments, reflecting a steady rise in confidence.
Godfrey Benjamin
In total, since the beginning of the year, total inflows into XRP investment products have reached $17 million, surpassing rivals such as Binance Coin and Cardano in this metric.
Wave against SEC
For those who analyze capital inflows into crypto investment products, the figure of $1 million in one week is quite convincing. When this continues for the second week in a row, especially with an asset like XRP, one begins to suspect that investors in traditional markets are preparing for some big move in the popular cryptocurrency.
Something similar could be seen with XRP last year, when a lot of money flowed into investment products focused on it starting in the spring, and then in mid-July a court ruled that price rose 100.% during the day.
Dan BurginPerhaps this time too, someone in traditional finance is planning a quick resolution of the SEC case against Ripple. Let us remember that now the parties are discussing the solutions that the crypto company must pay as a fine for unregistered sales of XRP to institutional investors. The regulator is demanding almost $2 billion from Ripple, while the company only wants to pay $10 million.
